US stocks rose slightly in a volatile session on Thursday, with investors cheered that Europe would step in with more stimulus if needed, though continued weakness in energy shares and some lackluster results kept a lid on gains. Major indexes fluctuated between positive and negative territory; the S&P 500 fell as much as 0.4 percent before rising as much as 0.2 percent, inching up to another record high.
European Central Bank President Mario Draghi indicated support for additional measures to support the economy, if necessary, and said the ECB governing council was unanimous in its commitment to using additional unconventional measures to support the economy. While investors were encouraged that central banks would continue to support the market, there were also concerns that such measures were still necessary. The S&P Energy index lost 0.3 percent, dropping alongside a 1.3 percent drop in the price of crude oil.
Crude prices have been pressured of late and are down about 30 percent from a recent closing high. Occidental Petroleum lost 1 percent to $85.60 while Halliburton Co was off 1 percent to $51.82. At 11:36 am (1636 GMT), the Dow Jones industrial average rose 38.89 points, or 0.22 percent, to 17,523.42, the S&P 500 gained 2.24 points, or 0.11 percent, to 2,025.81 and the Nasdaq Composite added 3.94 points, or 0.09 percent, to 4,624.66. Both the Dow and S&P hit records at their session highs.
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