U.S. stocks rebound on the final day of a week after a bleed day on Thursday as oil prices back to $39 a barrel.
The S&P 500 rose 0.79 percent to 2,057.99 at 10:46 a.m. in New York. The Dow Jones industrial climbs 129.3 points, or 0.74 percent, to 17,671.26 points. The Nasdaq Composite was up 0.69 percent to 4,881.16.
U.S. Stocks fell in three of the past four days. Before today, the S&P 500 was down 1.5 percent this week and the Dow also dropped 1.4 percent.
“Markets are so unpredictable right now -- there are risk-on days and there are times when everyone exaggerates the negatives,” said Dirk Thiels, head of investment management at KBC Asset Management in Brussels. “The rebound was just about bringing valuations back to average, and not really a sign that any bearish sentiment is easing. Maybe a better earnings season can change that, but right now you don’t need a lot for markets to get nervous.”
The rally of the global stocks today thanks to the higher commodity prices. West Texas Intermediate crude jumps 6.31 percent to 39.61 a barrel, with a weekly gain of 6.6 percent. Brent Crude rose 5.50 percent to $41.6 a barrel. Copper gained 0.3 percent, spot gold lost 0.5 percent and natural gas retreat 0.4 percent.
For the global market, the Nikkei 225 index in Japan gained 1.2%, Hong Kong’s Hang Seng index retreated 0.5%. European markets rose as Germany's DAX index was up 1.3% and Britain's FTSE 100 gained 0.9%.