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%. The Dow Jones Industrial Average climbed 0.6%, and the Nasdaq composite added 0.8% 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%, to 6,824.66.
The Dow Jones Industrial Average rose 275.88 points, or 0.6%, to 48,185.80.
The Nasdaq composite rose 187.42 points, or 0.8%, to 22,822.42.
The Russell 2000 index of smaller companies rose 15.85 points, or 0.6% to 2,636.31.
For the week:
The S&P 500 is up 241.97 points, or 3.7%.
The Dow is up 1,681.13 points, or 3.6%.
The Nasdaq is up 943.24 points, or 4.3%.
The Russell 2000 is up 106.27 points, or 4.2%.
For the year:
The S&P 500 is down 20.84 points, or 0.3%.
The Dow is up 122.51 points, or 0.3%.
The Nasdaq is down 419.57 points, or 1.8%.
The Russell 2000 is up 154.40 points, or 6.2%.
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