NEW YORK, N.Y. – U.S. stocks rose Thursday as the price of oil climbed for the third day in a row while key oil-producing nations discussed cuts in production. Tech and consumer stocks traded higher, led by Amazon and PayPal. Drugmakers fell.
The Dow Jones industrial average gained 125.18 points, or 0.8 per cent, to 16,069.64.
The Standard & Poor’s 500 index rose 10.41 points, or 0.6 per cent, to 1,893.36.
The Nasdaq composite index added 38.51 points, or 0.9 per cent, to 4,506.68.
For the week:
The Dow has fallen 23.87 points, or 0.2 per cent.
The S&P 500 has lost 13.54 points, or 0.7 per cent.
The Nasdaq has declined 84.50 points, or 1.8 per cent.
For the year:
The Dow is down 1,355.39 points or 7.8 per cent.
The S&P 500 is down 150.58 points, or 7.4 per cent.
The Nasdaq is down 500.73 points, or 10 per cent.