NEW YORK (TheStreet) -- Stocks were rising slightly, with energy stocks leading market gains, as Friday's session gave little in the way of economic news to help feed a two-day rally. The Federal Reserve had infused markets with new vigor after promising on Wednesday a "patient" approach to raising interest rates.
The S&P 500 was up 0.26%, the Dow Jones Industrial Average rose 0.07%, and the Nasdaq rose 0.24%.
On Thursday, the S&P 500 and Nasdaq soared more than 2% and the Dow rocketed 420 points higher, its largest advance since November 2011.
Oil prices rebounded on Friday with West Texas Intermediate crude up 2.8% to $55.64 a barrel. Prices have been more volatile than usual over the past 24 hours after Saudi Arabia's oil minister, Ali al-Naimi, said OPEC wouldn't be able to stabilize oil prices alone lest it lose market share.
Energy shares were the best performers of the market with the Energy Select Sector SPDR ETF (XLE) up 0.31%. Major oilers and oil services companies pulled the sector higher with Chevron (CVX) climbing 1.1%, Schlumberger (SLB) gaining 1.1%, and Kinder Morgan (KMI) jumping 1.8%.
With no economic data due out Friday, trading could be more volatile than usual given it is a quadruple-witching session, one of four days of the year in which futures and options contracts expire at once.