U.S. stocks ended Thursday with the largest advance in three weeks, as two days of steady oil prices along with dovish comments by a Federal Reserve member helped further fuel a buying frenzy begun Wednesday.
The S&P 500 SPX, +1.79% added 36.26 points, or 1.8%, to 2,062.14, rising the most in three weeks, with the materials, technology and energy sectors leading gains, each rising more than 2%. Nine out of the 10 S&P sectors ended with a gain of more than 1%.
February gasoline RBG5, -3.43% turned higher, ending Thursday up less than a penny, or 0.3%, to settle at $1.3409 a gallon on Nymex. February heating oil HOG5, +0.65% also turned higher, up 1 cent, or 0.7%, to $1.7110 a gallon on Nymex.
Elsewhere in energy trading, natural gas for February NGG15, +1.54% delivery rose nearly 6 cents, or 2%, to end at $2.9270 per million British thermal units, as stockpiles fell. Natural-gas inventories declined 131 billion cubic feet in the week ended Jan. 2, the U.S. Energy Information Administration said. Analysts polled by Platts had expected a decline between 117 bcf and 121 bcf.
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