NEW YORK — U.S. stocks rose Thursday as the price of oil climbed for the third day in a row as investors hope for cuts in production. Tech stocks traded higher, led by PayPal and Facebook. Drugmakers fell.
The Dow Jones industrial average gained 125.18 points, or 0.8 percent, to 16,069.64.
The Standard & Poor’s 500 index rose 10.41 points, or 0.6 percent, to 1,893.36.
The Nasdaq composite index added 38.51 points, or 0.9 percent, to 4,506.68.
For the week:
The Dow has fallen 23.87 points, or 0.2 percent.
The S&P 500 has lost 13.54 points, or 0.7 percent.
The Nasdaq has declined 84.50 points, or 1.8 percent.
For the year:
The Dow is down 1,355.39 points or 7.8 percent.
The S&P 500 is down 150.58 points, or 7.4 percent.
The Nasdaq is down 500.73 points, or 10 percent.
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