Stocks Ended Higher as Tech Rebounded

U.S. stocks closed higher on Thursday, on the back of strong technology shares, after the Labor Department said inflation slowed a bit in August. The Dow Jones Industrial Average rose 147.07 points, or 0.57%, to 26,145.99. The S&P 500 added 15.26 points, or 0.53%, to 2,904.18. The Nasdaq Composite gained +59.48 points, or 0.75%, to 8,013.71.

Oil futures fell sharply on Thursday, as an industry report showed global supplies at a record and Hurricane Florence weakened ahead of its expected landfall on the East Coast. October futures on West Texas Intermediate crude fell $1.78, or 2.5%, to settle at $68.59 a barrel. November Brent gave up $1.56, or 2%, to $78.18 a barrel.