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U.S. stocks rose, even though oil prices did too, as financial markets moved more modestly a day after surging on optimism about a ceasefire in the war with Iran.
After beginning Thursday with moderate losses following drops for Asian and European stocks, the S&P 500 erased its dip and rose 0.6 percent. The Dow Jones Industrial Average climbed 0.6 percent, and the Nasdaq composite added 0.8 percent after Israel’s prime minister authorized direct negotiations with Lebanon.
That eased worries that the two-week ceasefire announced late Tuesday may already be in trouble. Oil prices pared some of their earlier gains but nevertheless remained higher.
On Thursday:
The S&P 500 rose 41.85 points, or 0.6 percent, to 6,824.66.
The Dow Jones Industrial Average rose 275.88 points, or 0.6 percent, to 48,185.80.
The Nasdaq composite rose 187.42 points, or 0.8 percent, to 22,822.42.
The Russell 2000 index of smaller companies rose 15.85 points, or 0.6 percent to 2,636.31.
For the week:
The S&P 500 is up 241.97 points, or 3.7 percent.
The Dow is up 1,681.13 points, or 3.6 percent.
The Nasdaq is up 943.24 points, or 4.3 percent.
The Russell 2000 is up 106.27 points, or 4.2 percent.
For the year:
The S&P 500 is down 20.84 points, or 0.3 percent.
The Dow is up 122.51 points, or 0.3 percent.
The Nasdaq is down 419.57 points, or 1.8 percent.
The Russell 2000 is up 154.40 points, or 6.2 percent.
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