Wall Street surges in dip-buying rally, oil falls
U.S. stocks closed sharply higher on Thursday, powered by a rebound in recently battered mega-cap growth stocks, while crude oil prices declined as a surge of COVID cases in China exacerbated fears of global economic downturn.
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### Instruction: Wall Street surges in dip-buying rally, oil falls

### Response: U.S. stocks closed sharply higher on Thursday, powered by a rebound in recently battered mega-cap growth stocks, while crude oil prices declined as a surge of COVID cases in China exacerbated fears of global economic downturn.