Stocks Ended Higher, Oil Futures Rose Sharply

U.S. stocks ended higher on Thursday, recovering from early losses, after investors looked beyond yet another ugly surge in U.S. jobless claims. The Dow Jones Industrial Average gained 377.37 points, or 1.62%, to 23,625.34. The S&P 500 added 32.50 points, or 1.15%, to 2,852.50. The Nasdaq Composite advanced 80.56 points, or 0.91%, to 8,943.72.

Oil futures rose sharply Thursday, lifting U.S. prices to their highest in nearly six weeks, on the back of recent pledges by major oil producers to cut output. West Texas Intermediate crude for June delivery rose $2.27, or 9%, to settle at $27.56 a barrel. July Brent crude added $1.94, or nearly 6.7%, at $31.13 a barrel.