US Stocks climb as oil and Treasury yields dip

On Thursday, the US stock market experienced a bounce back, buoyed by several factors. Oil prices declined, hitting a one-week low as concerns over supply disruptions eased after Saudi oil moved through Oman. Treasury yields also dropped. The labor market showed solid data, with initial jobless claims falling to near-1969 lows. These developments helped all three major US stock indexes close sharply higher, with the Nasdaq leading the charge.

Specialists attribute the bullish sentiment to a tech-led rally and increased buying interest as investors sought opportunities in areas hit hard by anticipation of the Federal Reserve's first interest rate hike in over three years. Fed Chair Kevin Warsh emphasized the central bank's independence and reiterated its commitment to bringing inflation back to its 2-percent goal, potentially leading to more tightening this year.

The market's relief at the Fed's unified stance on policy may have contributed to the positive outlook. Other notable performers included gold and silver miners, chip stocks, and homebuilders, which rose more than 3 percent. Crypto-linked stocks also gained after the US Securities and Exchange Commission announced a five-year exemption for tokenized stock trading.