(CNBC) U.S. stocks closed higher Friday, for their first positive week in four, helped by a recovery in oil from multiyear lows and hopes of stimulus overseas.
The S&P 500 closed 2 percent higher, above the psychologically key 1,900 level, with energy gaining 4.3 percent to lead all sectors higher. ( Tweet This )
"I think it's all about oil today," said Chris Gaffney, president at EverBank World Markets. "We were able to continue a rally in oil or at least have oil stop falling and come back up a bit. That's got equity investors dipping their toes in the market again. That and ... (European Central Bank President Mario) Draghi pulling out his 'we'll do everything to support the markets.'"
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