Stocks Ended Higher, S&P 500 and Nasdaq Gained for the Week

U.S. stocks ended sharply higher on Thursday, with the Dow rallying over 370 points and the S&P 500 and Nasdaq Composite turning positive for the week. The Dow Jones Industrial Average rose 371.12 points, or 1.43%, to 26,378.19. The S&P 500 rose 54.11 points, or 1.88%, to 2,938.09. The Nasdaq Composite advanced 176.33 points, or 2.24%, to 8,039.16. For the week, the Nasdaq is on track for a weekly gain of 0.4% and the S&P 500 is set to end the week 0.2% higher. The Dow is down 0.4% so far this week.

Oil prices reclaimed some of their steep loss in Thursday action, tracking gains for global stock markets as upbeat news emerged from China. West Texas Intermediate crude for September delivery snapped back by $1.45, or 2.8%, to $52.54 a barrel. October Brent crude was up $1.15, or 2%, at $57.38 a barrel.

Uber (UBER) reported its Q2 2019 earnings after the bell on Thursday, missing on analysts’ top line estimates. It reported a whopping $5.24 billion quarterly loss, equal to $4.72 a share, included $3.9 billion in stock-based compensation expenses. Revenue improved 14% to $3.17 billion.