NEW YORK (AP) — U.S. stocks are drifting near their record heights on Thursday, as oil prices jump after President Donald Trump announced “massive” new sanctions on Russia’s crude industry.

The S&P 500 added 0.6% and crept back within 0.2% of its all-time high set earlier this month. The Dow Jones Industrial Average rose 125 points, or 0.3%, and was near its own record set earlier this week. The Nasdaq composite was up 0.9%, as of 1:14 p.m. Eastern time.

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