Wall Street rallies to highest close of 2016

Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York on March 11, 2016. REUTERS / Lucas Jackson

NEW YORK (Reuters) – Wall Street rallied on Friday in a delayed response to the European Central Bank’s stimulus measures announced Thursday, while higher oil prices drove up energy shares.

The S&P 500 closed at its highest level of the year and above its 200-day moving average for the first time since Dec. 30.

The Dow Jones industrial average rose 218.18 points, or 1.28 percent, to 17,213.31, the S&P 500 gained 32.62 points, or 1.64 percent, to 2,022.19 and the Nasdaq Composite added 86.31 points, or 1.85 percent, to 4,748.47.

(Reporting by Laila Kearney; Editing by Nick Zieminski)

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