(CNBC) — U.S. stocks closed mostly higher on Wednesday, with the Dow and S&P completing a massive comeback spurred by a surge in oil.
"If you look at the relationship between the the Dow and the S&P, it's a little off today, meaning that the Dow is leading the S&P," said JJ Kinahan, chief strategist at TD Ameritrade. " That's got to do with what's going on in oil."
West Texas Intermediate gained about 8 percent in choppy trade after the Energy Information Administration said U.S. inventories rose by 7.8 million barrels last week. Crude prices briefly erased gains following the data release, but surged on a weaker dollar.
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