Wall Street rallied Thursday after falling oil prices and yields in the bond market eased the pressure on US stocks. Banks, small companies and other stocks that had earlier been left behind by the euphoria around artificial-intelligence technology led the way.

The S&P 500 rose 0.4 per cent for its 10th gain in the last 11 days, a day after dropping from its all-time high. The Dow Jones Industrial Average soared 874 points, or 1.7 per cent, to a record, and the Nasdaq composite slipped 0.1 per cent.

Stocks got a lift from a 2.8 per cent drop for the price of Brent crude oil to US$95.03 per barrel. That gave back a chunk of its rise from this week caused by the latest flare-ups of fighting between Iran and the United States and its allies.