US stocks extend rally even as oil climbs back above $100

NEW YORK (AP) — Wall Street’s is extending a rally into a 3rd day on Thursday, even as oil costs bounce back above $100 per barrel.

The S&P 500 was up 0.8% in afternoon buying and selling after drifting between small positive aspects and losses within the early going.

The index surged greater than 2% in every of the prior two days for its greatest back-to-back efficiency in almost two years.

U.S. oil leaped about 8% to high $102 per barrel.

Such strikes have turn out to be the norm as traders wrestle to handicap what is going to occur to the economic system and inflation due to Russia’s invasion of Ukraine, increased rates of interest and renewed COVID-19 worries.