U.S. Stocks Extend Oil-fueled Rally To Third Session

U.S. stocks closed higher for a third straight session Wednesday led by outsize gains in the energy and materials sectors. A rebound in oil prices after a drop in weekly supplies in the U.S. sent energy shares sharply higher. The S&P 500 closed 25.31 points, or 1.2%, higher at 2,064.28 and turned positive for the year. The top six gainers on the S&P 500 were in the energy and materials sectors, each rising more than 10%. More than 90% on the S&P 500 finished higher. The Dow Jones Industrial Average gained 184.87 points, or 1.1%, to 17,602.07. This is the ninth straight session of triple-digit moves and 15th this month for the blue-chip index. Meanwhile, the Nasdaq Composite ended the day up 44.82 points, or 0.9%, at 5,045.93.

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