Stocks rose on Thursday as the price of oil climbed for the third day in a row while key oil-producing nations like Russia and Saudi Arabia discussed cuts in production.

Technology and consumer stocks traded higher while drug makers fell.

Facebook made its biggest leap in two and a half years. On Wednesday, it reported that its profit more than doubled in the fourth quarter. Facebook finished 2015 with almost 1.6 billion users. The sports apparel maker Under Armour also surged.

The Dow Jones industrial average climbed 125.18 points, or 0.8 percent, to 16,069.64. The Standard & Poor’s 500-stock index picked up 10.41 points, or 0.6 percent, to 1,893.36. The Nasdaq composite index rose 38.51 points, or 0.9 percent, to 4,506.68.