Stocks Rally as Technology, Energy Sectors Gain

U.S. stocks rose sharply on Thursday, led by economically sensitive sectors like materials, energy and technology. The Dow Jones Industrial Average jumped 110.24 points, or 0.62%, to 17,972.38. The S&P 500 added 19.95 points, or 0.96%, to 2,088.48. The Nasdaq Composite added 56.43 points, or 1.18%, to 4,857.61.

Retail sales fell in January for the second month in a row as consumers appeared to pocket most of the savings from sharply lower gasoline prices.Retail sales declined by a seasonally adjusted 0.8% last month after a 0.9% drop in December, the government said Thursday.

Greece and Germany are pursuing a deal on the conditions required to continue the Greek bailout as each side signals a willingness to compromise, according to government officials taking part in the talks.

Oil futures settled higher on Thursday. Crude-oil futures for delivery in March rose $2.37, or 2.4%, to settle at $51.21 a barrel on the New York Mercantile Exchange.