U.S. stocks close higher as S&P 500, Nasdaq clinch fourth day of gains

U.S. stocks closed higher on Thursday, with the S&P 500 and Nasdaq Composite clinching a fourth straight day of gains, as investors reacted to a recent drop in commodity prices. The S&P 500 rose 57.54 points, or 1.5%, to close at 3,902.61. The Nasdaq Composite gained 259.49 points, or 2.3%, to 11,621.35. The Dow Jones Industrial Average gained 346.87 points, or 1.1%, to 31,384.55. Investors are now looking ahead to June payrolls data, which is set to be released at 8:30 a.m. Eastern on Friday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.