US stock indices closed higher on Thursday, erasing losses from the previous two sessions as lower oil prices softened Treasury yields. The S&P 500 rose 1.1%, the Dow added 316 points, and the Nasdaq gained 1.7%. Oil and fuel prices trimmed their recent surge after Saudi Arabia signaled progress in restoring capacity through its East-West pipeline, easing some of the recent increase in wholesale energy inflation. Credit-sensitive hyperscalers posted gains, with Alphabet up 1.3%, Microsoft adding 1.5%, Meta rising 1.3%, Amazon advancing 2.1%, and Oracle jumping 5.1%. Chipmakers were sharply higher, extending their rebound after concerns over AI safety raised doubts about AI capital expenditure earlier this week. Nvidia rose 2.5%, Micron climbed 5.5%, AMD jumped 6.4%, and Intel soared 7.7%. Meanwhile, the Fed to rose interest rates by 25 bps on Wednesday, while FOMC members’ projections pointed to a consensus that another rate hike is warranted this year. Financials were mostly muted.