The U.S. stock market bounced back after pressure eased on Wall Street from the bond market and oil prices gave back some of their big gains.
The S&P 500 climbed 1.1 percent Wednesday, its first rise in four days. The index is not far from the all-time high it set last week. The Dow Jones Industrial Average added 1.3 percent, and the Nasdaq composite rallied 1.5 percent.
Stocks got a lift from easing yields in the bond market, which halted their sharp recent climbs on worries about inflation. The yield on the 10-year Treasury fell back below 4.60 percent as the price of Brent crude oil dropped 5.6 percent.
On Wednesday:
The S&P 500 rose 79.36 points, or 1.1 percent, to 7,432.97.
The Dow Jones Industrial Average rose 645.47 points, or 1.3 percent, to 50,009.35.
The Nasdaq composite rose 399.65 points, or 1.5 percent, to 26,270.36.
The Russell 2000 index of smaller companies rose 70.29 points, or 2.6 percent, to 2,817.36.
For the week:
The S&P 500 is up 24.47 points, or 0.3 percent.
The Dow is up 483.18 points, or 1 percent.
The Nasdaq is up 45.21 points, or 0.2 percent.
The Russell 2000 is up 24.07 points, or 0.9 percent.
For the year:
The S&P 500 is up 587.47 points, or 8.6 percent.
The Dow is up 1,946.06 points, or 4 percent.
The Nasdaq is up 3,028.37 points, or 13 percent.
The Russell 2000 is up 335.46 points, or 13.5 percent.
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