The stock market reversed an early stumble and ended higher, led by gains in energy companies. The Dow gained 200 points, or 1.2%, to 16,472. It was down as much as 258 earlier. The Standard & Poor's 500 index rose 27 points, or 1.4%, to 1,951. The Nasdaq composite rose 80 points, or 1.7%, to 4,707.
Chevron jumped 4%, the most in the Dow Jones industrial average. Exxon Mobil also gained 3%. Energy stocks climbed as the price of oil turned higher, shaking off a two-day slump. US crude gained 2%. Banks and other financial stocks were the only sector to fall. Bond prices rose. The yield on the 10-year Treasury note fell to 1.98%. (Read more Dow Jones stories.)