US stocks rebounded sharply in late Thursday trading as investors snapped up battered energy and other shares, while financials rose after upbeat results from J.P. Morgan. The S&P energy sector shot up 4.4 percent, on track for its best day since late August, while shares of Exxon Mobile surged 5.2 percent, also the biggest percentage gain since August, while Chevron jumped 5.4 percent. The Nasdaq Biotech Index rose 4.5 percent, while the S&P 500 index traded above 1,900.

J.P. Morgan rose 2.2 percent to $58.62 on better-than-expected results, boosting the financial sector by 0.8 percent. At 2:56 p.m., the Dow Jones industrial average was up 300.38 points, or 1.86 percent, to 16,451.79, the S&P 500 had gained 40.04 points, or 2.12 percent, to 1,930.32 and the Nasdaq Composite had added 116.68 points, or 2.58 percent, to 4,642.75.

Copyright Reuters, 2016