Stocks Ended Higher after Fed Minutes

U.S. stocks ended solidly higher on Thursday, after the release of minutes from the Federal Reserve, ahead of jobs report. The Dow Jones Industrial Average rose 181.92 points, or 0.75%, to 24,356.74. The S&P 500 gained 23.39 points, or 0.86%, to 2,736.61. The Nasdaq Composite added 83.75 points, or 1.12%, to 7,586.43.

Oil futures fell on Thursday, after data revealed a surprise run-up in domestic crude inventories—the first in a month. August West Texas Intermediate crude fell $1.20, or 1.6%, to settle at $72.94 a barrel. September Brent crude lost 85 cents, or 1.1%, to $77.39 a barrel.

Federal Reserve officials reaffirmed their commitment to gradually raising the benchmark lending rate amid rising risks from trade battles and emerging-market turmoil that could blunt the tailwind from fiscal policy.

U.S. services sector activity picked up in June amid strong growth in new orders, but trade tariffs and a shortage of workers were starting to strain the supply chain, which could slow momentum in the coming months.