- Wall Street moved higher on Thursday, adding momentum to a recent recovery as the energy and financial sectors emerged into positive territory for the year.
The S&P 500's increase was the most recent in four weeks of mostly steady gains that have left the index down 2.5 percent in 2016 after the worst January since 2009.
It was the second straight day that stocks strengthened late in the session, a pattern that some investors view as sign of improving sentiment. The S&P has gained in five out of the last seven sessions.
The Dow Jones industrial average .DJI ended 0.26 percent higher at 16,943.90 points and the S&P 500 .SPX gained 0.35 percent to 1,993.39.
The Nasdaq Composite .IXIC added 0.09 percent to 4,707.42.
Eight of the 10 major S&P 500 sectors gained, with the energy sector .SPNY up 1.28 percent and financials .SPSY up 0.63 percent, both climbing into positive terrain for 2016.
The financial sector has surged 13 percent in the past 14 sessions, although it remains down 7 percent in 2016. Investors fear that low oil prices will force energy companies to default on their debts.
Reference: Reuters
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