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Stocks gain for a third day this week; Oil price recovers

Stocks gain for a third day this week; Oil price recovers


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NEW YORK (AP) — The stock market is notching its third big gain this week as the price of oil recovers and investors applaud a big acquisition in the pharmaceutical industry.

Energy stocks rose Thursday as crude oil gained 4 percent.

Hospira soared 35 percent after the drugmaker agreed to be acquired by Pfizer for $16 billion.

The Dow Jones industrial average rose 211 points, or 1.2 percent, to 17,884.

The Standard & Poor's 500 rose 21 points, or 1 percent, to 2,062. The Nasdaq composite rose 48 points, or 1 percent, to 4,765.

The gains put the Dow and the S&P 500 back in the black for 2015.

Crude oil rose 4 percent to close at $50.48 a barrel.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.81 percent.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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