Stocks Ended Higher as UK Votes on Brexit

U.S. stocks ended higher on Thursday as investors bet that U.K. voters would elect to remain in the European Union in a long- anticipated referendum. The Dow industrial Average gained 230.24 points, or 1.29%, to 18,011.07. The S&P 500 gained 27.87 points, or 1.34%, to 2,113.32. The Nasdaq Composite gained 76.72 points, or 1.59%, to 4,910.04.

Oil futures settled at their highest level in two weeks on Thursday, with U.S. prices reclaiming $50 a barrel. August West Texas Intermediate crude rose 98 cents, or 2%, to settle at $50.11 a barrel. August Brent crude rose $1.03, or 2.1%, to $50.91 a barrel.

The Federal Reserve said Thursday that 33 of the nation’s biggest banks could weather an estimated $526 billion in losses from the first round of its stress tests without breaking rules for minimum levels of capital.

Volkswagen AG will pay owners of its polluting diesel cars up to $7,000, and agree to fund a grant program to offset air pollution, under a $10 billion settlement being negotiated for submission to a federal judge next week.

The Securities and Exchange Commission will examine the brokerage industry for potential violations in the way companies handle customer cash after the regulator reached a $415 million settlement with Bank of America.