Energy stocks propelled the broader stock market higher Thursday, driven by a surge in crude prices on hopes that Saudi Arabia and Russia could step back from their price war.
The Dow Jones industrial average jumped 300 points, a day after the blue-chip index shed nearly 1,000 points at the start of a new quarter. The Standard & Poor’s 500 jumped 1.5%, led by gains in the energy sector. Shares of Exxon Mobil and Chevron gained 10% and 11%, respectively.
