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.
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