U.S. stocks rallied, boosted by energy shares as oil surged after President Donald Trump said Russia and Saudi Arabia would cut production. Treasuries fell and the dollar rose.
The S&P 500 advanced for the first time in three days, with Chevron Corp and Exxon Mobil Corp. among the top gainers. Shares rebounded after falling 6% over the past two days. Consumer discretionary stocks weighed on the benchmark after jobless claims doubled from last week to 6.6 million.