US stocks rise as energy stocks rally after big slump

NEW YORK (AP) - European markets also rose on hopes the European Central Bank will do more to aid the region's economy.

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.

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.

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.

European Central Bank head Mario Draghi said the ECB will consider using more stimulus measures at its next meeting in March as it tries to bolster the European economy. The prospect of more stimulus sent the euro down to $1.0875 from $1.0894 late Wednesday.

European stock indexes also rose. Britain's FTSE 100 increased 1.8 percent, Germany's DAX climbed 1.9 percent and France's CAC gained 2 percent.

Lefkowitz thinks the market could get another lift next week if the Fed acknowledges the turbulent state of the markets at its January meeting. The Fed raised interest rates for the first time in almost a decade in December, and Lefkowitz said investors are hoping for signs the Fed plans to go slowly.

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.

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.

The price of heating oil climbed 3.2 cents, or 3.7 percent, to 89.8 cents gallon as a winter storm bore down on the East Coast. Wholesale gasoline rose 1.4 cents to $1.031 a gallon. Natural gas picked up 2 cents to $2.138 per 1,000 cubic feet.

The dollar rose to 117.50 yen from 116.78 yen. The yield on the 10-year Treasury note rose to 2.03 percent from 1.98