A crude oil rally pushed U.S. stocks sharply higher to close near session highs on Thursday. The S&P 500 jumped nearly 2 percent, erasing all losses for the week so far. Higher crude prices triggered a rally in the energy sector. Among the best performers, majors BP (BP) and Chevron (CVX) surged more than 5 percent each. Brown-Forman (BF.B) announced plans to sell some of its brands including Southern Comfort to Fireball-maker Sazerac for nearly $535 million. The deal allows Brown-Forman to focus on its whiskey brands such as Jack Daniel's. JetBlue (JBLU) suffered a network outage this afternoon that disrupted customers' travel plans across the U.S. The airline said while there were a number of flights still on track for departure, many would be delayed or cancelled. TheStreet's Keris Lahiff has details from Wall Street.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.