The Dow Jones industrial average swung into positive territory today for the first time in 2016, completing a reversal after its worst start to a calendar year in history, USA Today reports.
“For the day, the Dow climbed 156 points, a 0.9% gain, to 17,481 — 56 points above its 2015 close,” the story reports. “The rally extended gains from Wednesday when the Federal Reserve left interest rates unchanged and scaled back its plans for further hikes this year.”
The report adds: “The recent turnaround in stocks has been stoked by a rebound in oil prices and an easing of recession fears. Oil prices rose again Thursday as U.S. benchmark crude jumped 1.4% to $40.20 a barrel — its first time above $40 since Dec. 4.”