(CNBC) — U.S. stocks closed higher Wednesday as some stabilization in oil prices offset declines in financials to help stocks recover from an intraday decline of more than 1 percent.
"I think it's the move in crude and month-end flow," Jeremy Klein, chief market strategist at FBN Securities, said, noting many investors were waiting on the sidelines for the month-end to get out of the way and to see if the S&P 500 could break 1,950.
"Despite all that (talk of oil prices heading lower) crude is hanging in there and we're not just getting swung around by it. Then you have the chance to bring in some buyers," he said.
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