US stocks rose on Thursday after two days of declines, as energy shares rebounded with oil on concerns of a supply disruption following attacks on two tankers in the Gulf of Oman.US Secretary of State Mike Pompeo said the United States has assessed that Iran is responsible for the attacks, which occurred near Iran and the Strait of Hormuz, through which a fifth of global oil consumption passes.
"There are still concerns over geopolitical risk," said Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey.Stocks have had a strong run in June so far on hopes the Federal Reserve will act to counter a slowing global economy due to the escalating trade war with China. The benchmark S&P 500 index is up about five per cent so far for the month.
By the close, the Dow Jones Industrial Average rose 101.94 points, or 0.39 per cent, to 26,106.77, the S&P 500 gained 11.8 points, or 0.41 per cent, to 2,891.64 and the Nasdaq Composite added 44.41 points, or 0.57 per cent, to 7,837.13.Walt Disney Co shares gained 4.4 per cent, giving the S&P 500 its biggest boost, after Morgan Stanley raised its forecast for Disney Plus subscriber growth.
Twitter shares fell 3.1 per cent after brokerage Moffett Nathanson said it expects the social media company's costs to rise and revenue growth to slow.
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