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US stocks brush off year’s first wobble, return to records

US stocks brush off year’s first wobble, return to records

January 12th, 2018 in Business

FILE - In this Wednesday, Dec. 27, 2017, file photo, a logo for the New York Stock Exchange is displayed above the trading floor. Stocks are rising at the start of trading Thursday, Jan. 11, 2018, led by homebuilders and airlines. (AP Photo/Mark Lennihan, File)

NEW YORK (AP) — U.S. stocks brushed aside their first wobble of the year and got back to setting records Thursday. Energy stocks led the way after the price of oil touched its highest level since 2014.

The gains for indexes marked a return to calm, after a whiff of nervousness wafted through markets a day earlier as interest rates rose. After rates held steady Thursday, the Standard & Poor’s 500 index marked its seventh gain in the last eight days.

The S&P 500 rose 19.33 points, or 0.7 percent, to a record 2,767.56. The Dow Jones industrial average rose 205.60 points, or 0.8 percent, to 25,574.73, the Nasdaq composite gained 58.21 points, or 0.8 percent, to 7,211.78 and the Russell 2000 index of small-cap stocks surged 26.99 points, or 1.7 percent, to 1,586.79.