(CNBC) U.S. stocks closed higher Wednesday with energy among the top gainers as oil rose above $49 a barrel to hit fresh highs for the year so far.
The major averages posted their best day since March on Tuesday and were tracking for weekly gains of nearly 2 percent or more in afternoon trade Wednesday. ( Tweet This )
"It has felt like the last couple of days have been a bit of a short squeeze," said JJ Kinahan, chief strategist at TD Ameritrade. He said ahead of the long weekend, traders were waiting for Fed Chair Janet Yellen's comments, expected Friday as she receives an award at Harvard.
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