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Stocks rose on Thursday on the back of strong gains in Disney and energy shares, building on this month’s sharp rally.
The Dow Jones Industrial Average gained 62.49 points to 26,067.32, as Disney shares outperformed
The S&P 500 was up 11.8 points at 2,891.64, led by the energy sector.
The NASDAQ Composite advanced 44.41 points to 7,837.13.
The major indexes were all up more than 4% for the month, after notching sharp losses in May.
Disney shares contributed to the gains, rising more than 4.4% after an analyst at Morgan Stanley raised his price target on the stock to $160 per share from $135. The analyst cited the company’s new streaming service, noting it could give its global subscriber numbers a boost.
Energy prices soared, as Hess and Phillips 66 were the best performers within the sector, rising more than 2% each.
Still, lingering trade tensions kept investors on edge. Expectations that trade officials from the U.S. and China will clinch a deal on the sidelines of a G-20 meeting in Osaka on June 28-29 have been fading in recent days.
President Donald Trump, who has said he still has plans to meet with Chinese President Xi Jinping later this month, has repeatedly threatened to escalate an already months-long trade war by putting tariffs on almost all of the remaining Chinese imports that are not already impacted by U.S. charges.
Prices for the benchmark 10-year U.S. Treasury gained a bit Wednesday, lowering yields to 2.10% from Wednesday’s 2.12%. Treasury prices and yields move in opposite directions.
Oil prices was ahead $1.11 to $52.25 U.S. a barrel.
Gold prices gained $8.30 at $1,345.10 U.S. an ounce.
