Stocks rise on Wall Street, but remain lower for the week

FILE - The New York Stock Exchange on June 29, 2022, in New York. NEW YORK — Stocks rose in morning trading on Wall Street Thursday, but remain lower for the week after five straight losses.

The S&P 500 rose 0.9% as of 10:14 a.m. Eastern. The Dow Jones Industrial Average rose 244 points, or 0.7%, to 33,842 and the Nasdaq rose 1.2%. Energy stocks had some of the biggest gains as U.S. crude oil prices rose 2.6%. after hitting their lowest point of the year a day earlier. Exxon Mobil rose 2.4%.

Bond yields rose. The yield on the 10-year Treasury note, which helps set mortgage rates, rose to 3.48% from 3.42% late Wednesday.The U.S. reported slightly more Americans filed for jobless claims last week, but not as many as economists had forecast. The labor market remains one of the strongest pockets of the economy, which has been stifled under the weight of stubbornly hot inflation and rising interest rates.

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