U.S. Stocks End Higher As Oil Prices Surge

By Markets MarketWatch Pulse

U.S. stocks ended higher as oil futures notched their largest one-day gain in three weeks, driven by an unexpected drop in crude-oil inventories. The S&P 500 gained 21.49 points, or 1.1%, to 2,066.66, led by strong gains in health-care and energy shares. The Dow industrials rose 112.73 points, or 0.6%, to finish at 17,716.05, with Pfizer Inc. emerging as the top gainer after the company walked away from a controversial merger with Ireland-based Allergan PLC. The Nasdaq Composite climbed 76.78 points, or 1.6%, to 4,920.72, its highest closing level of the year. Stocks remained higher after minutes from the Federal Reserve's March meeting showed most policy makers supporting a cautious approach to raising interest rates.

Continue Reading Below

Copyright © 2016 MarketWatch, Inc.