<p>Discussing today&#039;s early trading action,
CNBC&#039;s Bob Pisani reports all 10 sectors in the S&amp;P 500
are up and health care is leading the way.</p>
U.S. stocks surged for a second day on Thursday, with
benchmark indexes turning higher for the year, as the price of oil
steadied and on thinking the Federal Reserve and the European Central
Bank would buttress the global economy.
The CBOE Volatility Index, a measure of investor uncertainty, fell 12 percent to 17.05.
Comments late Wednesday by Fed Bank of Chicago President Charles Evans helped the bullish slant, with Evans saying he did not believe the central bank should be in a rush to hike interest rates.
In a letter to European lawmakers, ECB President Mario Draghi said the ECB would reassess its monetary-policy stance early this year, and that ECB moves could include sovereign
bond purchases, Bloomberg reported on Thursday.
"Three things are driving the market significantly higher this morning as a follow on to yesterday's strength," Art Hogan, chief market strategist at Wunderlich Securities, said.
"First and foremost, continued stabilization in the energy market; number two, after the close, Fed President Charles Evans commenting that the Fed may not move until 2016 put a bid in futures last night and that that's holding this morning, and third anticipation that the ECB will actually start outright quantitative easing at their meeting, which is later this month," Hogan said.
Costco Wholesale climbed in early New York trading after the warehouse retailer reported a better-than-expected increase in same-store sales last month; Family Dollar Stores fell after the discount retailer reported quarterly earnings short of estimates, and J.C. Penney dropped after the retailer said it would close about 40 stores in the next year.
Read MoreEarly movers: COST, FDO, GOOG, HLF, WDFC & more
Data Thursday had jobless claims dropping by 4,000 to 294,000 last week, with the better-than-expected number coming a day before the payrolls report for December.
The CBOE Volatility Index, a measure of investor uncertainty, fell 12 percent to 17.05.
Comments late Wednesday by Fed Bank of Chicago President Charles Evans helped the bullish slant, with Evans saying he did not believe the central bank should be in a rush to hike interest rates.
In a letter to European lawmakers, ECB President Mario Draghi said the ECB would reassess its monetary-policy stance early this year, and that ECB moves could include sovereign
bond purchases, Bloomberg reported on Thursday.
"Three things are driving the market significantly higher this morning as a follow on to yesterday's strength," Art Hogan, chief market strategist at Wunderlich Securities, said.
"First and foremost, continued stabilization in the energy market; number two, after the close, Fed President Charles Evans commenting that the Fed may not move until 2016 put a bid in futures last night and that that's holding this morning, and third anticipation that the ECB will actually start outright quantitative easing at their meeting, which is later this month," Hogan said.
Costco Wholesale climbed in early New York trading after the warehouse retailer reported a better-than-expected increase in same-store sales last month; Family Dollar Stores fell after the discount retailer reported quarterly earnings short of estimates, and J.C. Penney dropped after the retailer said it would close about 40 stores in the next year.
Read MoreEarly movers: COST, FDO, GOOG, HLF, WDFC & more
Data Thursday had jobless claims dropping by 4,000 to 294,000 last week, with the better-than-expected number coming a day before the payrolls report for December.
Recouping a 461-point deficit tallied on Monday and Tuesday, the Dow Jones Industrial Average
rose as much as 306 points, and was lately up 301.46 points, or 1.7
percent, to 17,885.98, with all 30 of its components advancing.
The S&P 500 added 34.08 points, or 1.7 percent, to 2,059.98, with all 10 of its major industry groups rising.
The Nasdaq gained 83.12 points, or 1.8 percent, to 4,733.52.
For every share falling, roughly four rose on the New York Stock Exchange, where 237 million shares traded by 11:20 a.m. Eastern. Composite volume approached 1.3 billion.
On the New York Mercantile Exchange, crude-oil futures for February delivery wavered, lately up 16 cents, or 0.3 percent, at $48.81 a barrel. Gold futures added $2.20, or 0.2 percent, to $1,212.90 an ounce.
The S&P 500 added 34.08 points, or 1.7 percent, to 2,059.98, with all 10 of its major industry groups rising.
The Nasdaq gained 83.12 points, or 1.8 percent, to 4,733.52.
For every share falling, roughly four rose on the New York Stock Exchange, where 237 million shares traded by 11:20 a.m. Eastern. Composite volume approached 1.3 billion.
On the New York Mercantile Exchange, crude-oil futures for February delivery wavered, lately up 16 cents, or 0.3 percent, at $48.81 a barrel. Gold futures added $2.20, or 0.2 percent, to $1,212.90 an ounce.
On Wednesday, U.S. stocks jumped, with the S&P 500 rebounding from a five-session dive, as U.S. crude stopped a four-day skid, concerns eased about a Greek exit from the European Union and investors offered a favorable reaction to minutes from the Federal Reserve.
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