The Dow surged 456.94 points, or 1.99%, to 23,475.82. The S&P 500 advanced 2.29% to 2,799.31. The Nasdaq Composite gained 2.81% to 8,495.38. Stocks got a boost as oil prices clawed back some of their historic losses while solid earnings lifted sentiment as well.
The West Texas Intermediate contract for June jumped 19%, erasing an earlier decline and lifting the energy sector in the S&P 500. Crude seemed to get a jolt after President Donald Trump tweeted he had "instructed the United States Navy to shoot down and destroy any and all Iranian gunboats if they harass our ships at sea." Still, one trader notes that oil's price action over the past few days "not only points us back to the economy and demand side, but is showing signs of spillover and contagion in risk toward other markets."