Stocks Notched Fresh Record Closes

U.S. stocks notched fresh record closes on Thursday after the European Central Bank held its key rates steady but said it would taper its asset-purchase plan in April. The Dow Industrial Average gained 65.19 points, or 0.33%, to 19,614.81. The S&P 500 was up 4.84 points, or 0.22%, to 2,246.19. The Nasdaq Composite added 23.59 points, or 0.44%, to 5,417.36.

The European Central Bank trimmed back its asset buys in a surprise move on Thursday but promised protracted stimulus to aid a still fragile recovery, and dismissed any talk of tapering the program away.

Oil futures settled with a gain on Thursday following two consecutive sessions of declines. January West Texas Intermediate crude rose $1.07, or 2.2%, to settle at $50.48 a barrel. February Brent tacked on 67 cents, or 1.3%, to $53.67 a barrel.

Preparing to make public appearances Thursday in Ohio and Iowa, President-elect Donald Trump is expected to nominate restaurant chain executive Andy Puzder to be Labor secretary.