Stocks Opened Higher, Oil Rallied

U.S. stocks opened higher on Thursday, as investors digested a wave of economic reports. The Dow Jones Industrial Average lately rose 203.51 points, or 0.82%, to 25,097.00. The S&P 500 added 16.18 points, or 0.60%, to 2,714.81. The Nasdaq Composite gained 57.90 points, or 0.81%, to 7,201.52.

Oil were rallying again on Thursday, on the heels of the biggest one-day gain in more than two months, driven by a mild U.S. crude-inventory rise. West Texas Intermediate futures rose 76 cents, or 1.3%, to $61.36 a barrel. Brent crude rose 62 cents, or 1%, to $64.98 a barrel.

Cisco Systems Inc (CSCO) reported a fiscal second-quarter loss of $8.78 billion, or $1.78 a share, compared with net income of $2.35 billion, or 47 cents a share, in the year-ago period. Adjusted earnings, excluding $11.1 billion in charges from the U.S. tax overhaul, were 63 cents a share.