NEW YORK (AP) — Stocks are rising on Wall Street, taking back much of their losses from a day earlier that were driven by anticipation that the Federal Reserve will likely raise interest rates this year in an effort to fight inflation. The S&P 500 rose 1% early Thursday. The Dow Jones Industrial Average added 383 points, and the Nasdaq composite rose 1.2%. Crude oil prices continued to fall after the United States and Iran signed an agreement to end their war and reopen the Strait of Hormuz to oil tanker traffic. Brent crude fell 1.7%. Treasury yields eased in the bond market.
THIS IS A BREAKING NEWS UPDATE. AP's earlier story follows below.
U.S. markets rose in premarket trading Thursday, taking back much of their losses from a day earlier that were driven by speculation that the Federal Reserve may raise interest rates this year to try and reign in persistent inflation.
