Stocks shook off a midday slump and closed higher on Wall Street, though energy companies ended in the red as crude oil prices fell sharply.
Crude oil prices sank as China started to lock down Shanghai, its largest city and financial center, to conduct mass testing and control a growing outbreak of COVID-19. Bond yields fell after shooting higher earlier this month.
The S&P 500 rose 32.46 points, or 0.7%, to 4,575.52.
The Dow Jones Industrial Average rose 94.65 points, or 0.3%, to 34,955.89.
The Nasdaq rose 185.60 points, or 1.3%, to 14,354.90.
The Russell 2000 index of smaller companies rose 0.08 points, or less than 0.1%, to 2,078.06.
For the year:
The S&P 500 is down 190.66 points, or 4%.
The Dow is down 1,382.41 points, or 3.8%.
The Nasdaq is down 1,290.07 points, or 8.2%.
The Russell 2000 is down 167.25 points, or 7.4%.
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