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US stocks rebound a day after plunge

The major U.S. stock indexes veered higher in afternoon trading Thursday. | AP Photo

The stock market is closing broadly higher, led by gains in oil and gas companies as the price of crude turned higher.

The gains Thursday came a day after the market had its worst drop since September.

Chevron and Exxon Mobil each jumped 5 percent, by far the biggest gains in the Dow Jones industrial average. It was a reprieve for the energy sector, which has been battered in recent months as crude oil prices plunged.

JPMorgan Chase rose 2 percent after the bank reported earnings that beat forecasts.

The Dow Jones industrial average rose 227 points, or 1.4 percent, to 16,379.

The Standard & Poor’s 500 index gained 31 points, or 1.7 percent, to 1,921. The Nasdaq composite added 88 points, or 2 percent, to 4,615.