Stocks Erased Losses to End Higher

U.S. stocks erased sharp losses to end higher on Thursday, adding to gains after posting their best session for the day after Christmas ever on Wednesday. The Dow Jones Industrial Average rose 260.37 points, or 1.14%, to 23,138.82. The S&P 500 added 21.13 points, or 0.86%, to 2,488.83. The Nasdaq Composite gained 25.14 points, or 0.38%, to 6,579.49.

Crude-oil prices settled sharply lower Thursday, highlighting the volatility that has gripped assets perceived as risky. West Texas Intermediate crude for February delivery fell $1.61, or 3.5%, to $44.61 a barrel. February Brent crude declined $2.31, or 4.2%, to settle at $52.16 a barrel.