U.S. stocks rose on Thursday with the S&P 500 closing above the 2,100-mark for the first time since April as oil prices rebounded on the back of a weekly drop in U.S. crude supplies. Crude oil had been pressured earlier after the Organization of the Petroleum Exporting Countries failed to reach an agreement to cap member production. July West Texas Intermediate crude rose 16 cents, or 0.3%, to settle at $49.17 a barrel, bouncing back from below $48. The S&P 500 gained 6 points, or 0.3%, to close at 2,105 and the Dow Jones Industrial Average [S: DJIA] climbed 49 points, or 0.3%, to finish at 17,838. The Nasdaq rose 19 points, or 0.4%, to close at 4,971.
Copyright © 2016 MarketWatch, Inc.
Continue Reading Below