Key facts
- The S&P 500 rose 1.1% on Thursday, closing at 7,500.58.
- The Dow Jones Industrial Average added 0.1%, ending the day at 51,564.70.
- The Nasdaq composite jumped 1.9%, reaching 26,517.93.
- The Russell 2000 index increased by 2.1%, closing at 2,979.77.
- Crude oil prices fluctuated following a US-Iran peace agreement and the reopening of the Strait of Hormuz.
- Treasury yields eased after rising in anticipation of Federal Reserve rate hikes.
Stocks finished higher on Wall Street on Thursday, recovering most of the losses from the previous day. The S&P 500 gained 1.1%, the Dow Jones Industrial Average added 0.1%, and the Nasdaq composite saw a significant jump of 1.9%.
This market movement occurred as crude oil prices wavered following the announcement of an agreement between the United States and Iran to end their conflict and permit oil tanker traffic through the Strait of Hormuz. Treasury yields also eased in the bond market, having previously risen on expectations that the Federal Reserve might increase interest rates this year to combat inflation.
On Thursday, the S&P 500 closed up 80.48 points at 7,500.58. The Dow Jones Industrial Average rose 72.15 points to 51,564.70, and the Nasdaq composite climbed 496.28 points to 26,517.93. The Russell 2000 index, representing smaller companies, also saw gains, adding 61.78 points to 2,979.77.
For the week, the S&P 500 is up 0.9%, the Dow is up 0.7%, the Nasdaq has gained 2.4%, and the Russell 2000 has risen 1.2%. Year-to-date, the S&P 500 is up 9.6%, the Dow is up 7.3%, the Nasdaq has increased by 14.1%, and the Russell 2000 has seen a 20.1% rise.
U.S. markets will be closed on Friday in observance of Juneteenth.