Stocks Closed Higher with Boost from Banks, Energy

U.S. stocks closed modestly higher on Thursday, driven by gains in bank and energy sectors. The Dow Jones Industrial Average rose 55.64 points, or 0.23%, to 24,782.29. The S&P 500 gained 5.32 points, or 0.20%, to 2,684.57. The Nasdaq Composite added 4.40 points, or 0.06%, to 6,965.36.

U.S. oil futures bounced back from early weakness to end modestly higher Thursday, with analysts citing a backdrop of strong refinery demand and falling crude inventories. West Texas Intermediate crude for February delivery rose 27 cents, or 0.5%, to close at $58.36 a barrel.