Closing Bell: JetBlue Suffers Network Outage; Stocks Rally

A crude oil rally pushed U.S. stocks sharply higher to close near session highs on Thursday. The S&P 500 jumped nearly 2 percent, erasing all losses for the week so far. Higher crude prices triggered a rally in the energy sector. Among the best performers, majors BP (BP) and Chevron (CVX) surged more than 5 percent each. Brown-Forman (BF.B) announced plans to sell some of its brands including Southern Comfort to Fireball-maker Sazerac for nearly $535 million. The deal allows Brown-Forman to focus on its whiskey brands such as Jack Daniel's. JetBlue (JBLU) suffered a network outage this afternoon that disrupted customers' travel plans across the U.S. The airline said while there were a number of flights still on track for departure, many would be delayed or cancelled. TheStreet's Keris Lahiff has details from Wall Street.