NEW YORK (AP) - Stocks rose Thursday and recovered some of their steep losses from the day before. The price of oil also recovered from a big decline. That lifted energy companies, which have been struggling as energy prices tumble.
European markets also rose on hopes the European Central Bank will do more to aid the region's economy.
In the U.S., energy stocks climbed as oil prices bounced back from their worst day in four months, and strong earnings from Verizon lifted telecom stocks. Blue chip stocks did better than the rest of the market. The Dow Jones industrial average had its second-best day of 2016.
The Dow added 115.94 points, or 0.7 percent, to 15,882.68. The Standard & Poor's 500 index rose 9.66 points, or 0.5 percent, to 1,868.99. The Nasdaq composite index added less than half a point and closed at 4,472.06.
Stocks were on pace for much larger gains earlier in the day. The Dow was up 272 points shortly after noon, which would have canceled out Wednesday's loss.
U.S. crude rose $1.18, or 4.2 percent, to close at $29.53 a barrel in New York. On Wednesday, U.S. crude took its biggest one-day loss since September. Brent crude, a benchmark for international oils, rose $1.37, or 4.9 percent, to $29.25 a barrel in London.