US stocks close Thursday higher
Dow Jones ends day up 0.61%, S&P 500 up 1.14%, Nasdaq soars 1.69% as European indexes close day with gains
The New York stock market closed Thursday with gains as oil prices and bond yields retreated.
The Dow Jones industrial average rose 316.14 points, or 0.61%, to 51,778.04.
The S&P 500 increased by 1.14% or 85.95 points to 7,637.76, while the Nasdaq Composite soared 1.69% or 439.87 to close at 26,418.30.
The Volatility Index (VIX), often referred to as the market's "fear index," fell 12.87% to 15.43.
Equity markets, which had been under selling pressure after the Fed raised interest rates on Wednesday for the first time in three years, rebounded on Thursday driven by falling oil prices.
The Fed's interest rate hike instilled confidence in investors regarding the central bank's determination to curb inflation.
As concerns regarding oil supplies eased, the price of Brent crude oil futures fell 1.6% to $104.13 per barrel as of 2015GMT.
The yield on the US 10-year Treasury note fell seven basis points to 4.93%; on Tuesday.
European stocks also close higher
European stock markets ended the day with gains as the pan-European Stoxx Europe 600 index was up by 0.86% to 642.60 points.
Britain’s FTSE 100 rose 1.19% to 10,816.14, Germany’s DAX 40 increased 0.7% to 25,716.71 and France’s CAC 40 earned 0.57% to 8,186.93.
Italy’s FTSE MIB 30 index went up by 0.8% to close at 52,385.50, and Spain's IBEX 35 increased 1% to close at 19,831.80.
