Stocks Ended Higher, Oil Futures Rallied

U.S. stocks closed higher on Thursday after crude oil posts its biggest one-day jump on record. The Dow Jones Industrial Average advanced 469.93 points, or 2.24%, to 21,413.44. The S&P 500 rose 56.40 points, or 2.28%, to 2,526.90. The Nasdaq Composite was up 126.73 points, or 1.72%, to 7,487.31.

Oil futures rallied Thursday, sending U.S. prices up by nearly 25% as President Donald Trump tweeted that he expects Saudi Arabia and Russia to reach an agreement to significantly cut production. West Texas Intermediate crude for May delivery rose $5.01, or 24.7%, to settle at $25.32 a barrel. June Brent crude climbed $5.20, or 21%, to $29.94 a barrel.