NEW YORK (AP) — U.S. stocks rallied to their best day in two months, and oil prices fell after President Donald Trump called off his threat to bomb Iran in the evening. That raised hopes Thursday for a potential deal to get the global flow of oil going again. The S&P 500 jumped 1.8%, coming off a back-to-back drop that had yanked it back to where it was in early May. The Dow Jones Industrial Average leaped 1.9%, and the Nasdaq composite rallied 2.5%. Strong gains for chip stocks helped offset a slide for Oracle. Treasury yields eased sharply in the bond market.
THIS IS A BREAKING NEWS UPDATE. AP's earlier story follows below.
NEW YORK (AP) — U.S. stocks are climbing, and oil prices are falling Thursday after President Donald Trump called off his threat to bomb Iran in the evening.
