Stocks are closing solidly higher after another whipsaw day, giving the market its first gain in three days.
Major U.S. indexes rose more than 2% Thursday. Energy stocks led the way higher as the price of crude oil jumped 25%, bouncing further off an 18-year low, after President Donald Trump said he expects Saudi Arabia and Russia to dial down their price war.
The rebound in oil, which was welcome news to a struggling U.S. energy sector, offset another dire report on the jobs market. Millions more Americans filed for unemployment benefits last week as businesses shut down because of the coronavirus outbreak.