(CNBC) -- Stocks rose for the first time in three days on Wednesday as crude prices stabilized after a record plunge while better-than-expected earnings also lifted market sentiment.
The Dow Jones Industrial Average jumped 456.94 points, or nearly 2%, to 23,475.82. The S&P 500 climbed 2.3% to 2,799.31 while the Nasdaq Composite advanced 2.8%. to 8,495.38 The major averages reached their session highs in the final minutes of trading, with the Dow gaining more than 550 points.
The West Texas Intermediate contract for June was up 19%, settling at $13.78 per barrel, after an earlier decline. Brent futures, meanwhile, were up 7.6% at $20.76 per barrel, recovering from a sharp overnight drop.
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