Mumbai, Oct. 24 -- The Nasdaq jumped 201.40 points (0.9%) to 22,941.80, the S&P 500 climbed 39.04 points (0.6%) to 6,738.44 and the Dow rose 144.20 points (0.3%) at 46,734.61.

Energy stocks displayed substantial strength as the price of crude oil skyrocketed after the Trump administration announced sanctions on Russia's two largest oil companies. The Treasury Department announced sanctions against Rosneft and Lukoil, citing Russia's "lack of serious commitment to a peace process to end the war in Ukraine." President Donald Trump recently expressed some optimism about ending the drawn-out Russia-Ukraine war before suddenly canceling a planned meeting with Russian President Vladimir Putin.

Energy sector was strong leading to a spike of 4....