(CNBC) Stocks rose on Thursday as gains bank shares and the oil market offset another dismal round of U.S. unemployment data.
The Dow Jones Industrial Average traded 310 points higher, or 1.3%, after falling more than 450 points earlier in the day. The Dow was also on pace to snap a three-day losing streak. The S&P 500 climbed 0.8%. The Nasdaq Composite traded 0.4% higher. Both the S&P 500 and Nasdaq were down over 1% to start off the session.
Bank of America and JPMorgan Chase gained more than 4% each. Citigroup traded 2.8% higher while Wells Fargo advanced over 8%. Oil prices climbed 9% to $27.56 per barrel, leading the S&P 500 energy sector up by 0.7%.
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