Wall Street stops the bleeding

Stocks rose Thursday and recovered some of their steep losses from the day before. The price of oil also recovered from a big decline. That lifted energy companies, which have been struggling as energy prices tumble.

European markets also rose on hopes the European Central Bank will do more to aid the region's economy. In the U.S., energy stocks climbed as oil prices bounced back from their worst day in four months, and strong earnings from Verizon lifted telecom stocks. Blue chip stocks did better than the rest of the market. The Dow Jones industrial average had its second-best day of 2016.

The Dow added 115.94 points, or 0.7 percent, to 15,882.68. The Standard & Poor's 500 index rose 9.66 points, or 0.5 percent, to 1,868.99. The Nasdaq composite index added less than half a point and closed at 4,472.06.

Stocks were on pace for much larger gains earlier in the day. The Dow was up 272 points shortly after noon, which would have canceled out Wednesday's loss.

U.S. crude rose $1.18, or 4.2 percent, to close at $29.53 a barrel in New York. On Wednesday U.S. crude took its biggest one-day loss since September. Brent crude, a benchmark for international oils, rose $1.37, or 4.9 percent, to $29.25 a barrel in London.

Energy stocks have crumbled as the price of oil fell from $100 a barrel in mid-2014. The price of oil is the lowest it's been since 2003.

Natural gas company Southwestern Energy jumped after saying it will eliminate around 1,100 jobs, or 44 percent of its work force, in the next few months. Its shares added $1.42, or 19.2 percent, to $8.80. Coal and natural gas company Consol Energy surged 97 cents, or 19.1 percent, to $6.04. Pipeline company Kinder Morgan rose $1.87, or 15.6 percent, to $13.88. Consol and Southwestern were the second- and third-worst performing S&P 500 stocks in 2015.

Telecom stocks rose after Verizon, the largest U.S. cellphone carrier, said it turned a profit in the fourth quarter and held on to more customers. Its shares gained $1.45, or 3.3 percent, to $45.87. AT&T shares added 64 cents, or 1.9 percent, to $34.54.

Consumer stocks also gained ground. Wal-Mart rose $1.04, or 1.7 percent, to $61.88. It's the only Dow component that has risen this year, though it's up only 1 percent. Department store operator Nordstrom picked up $1.64, or 3.6 percent, to $47.74 and Home Depot gained $3.76, or 3.2 percent, to $120.22.

Union Pacific's fourth-quarter profit and revenue fell far short of Wall Street estimates. CEO Lance Fritz said the uncertainty in energy and commodity markets and the strong U.S. dollar will continue to affect the railroad's business this year. The stock lost $2.61, or 3.5 percent, to $71.