Stocks Ended Higher, Nasdaq Turned Positive for the Year

U.S. stocks ended sharply higher on Thursday, with the Nasdaq Composite being back in positive territory for the year. The Dow Jones Industrial Average gained 211.25 points, or 1.15%, to 23,875.89. The S&P 500 rose 32.77 points, or 1.15%, to 2,881.19. The Nasdaq Composite advanced 125.27 points, or 1.41%, to 8,979.66.

Crude oil futures gave up earlier gains on Thursday, with downbeat comments from Federal Reserve officials on economic activity and some doubts over producer compliance with the OPEC+ output-cut agreement prompting prices to settle lower. West Texas Intermediate crude for June delivery fell 44 cents, or 1.8%, to $23.55 a barrel. July Brent crude lost 26 cents, or 0.9%, at $29.46 a barrel.

Uber (UBER) reported first quarter earnings that largely beat Wall Street estimates, but the ride hailing giant’s losses widened to nearly $3 billion. It reported a first-quarter loss of $2.94 billion, or $1.70 a share, compared with a loss of $1.01 billion in the year-ago period. Revenue swelled 14% to $3.54 billion from $3.1 billion in the year-ago period.