Stocks Ended Higher as Tech Shares Outperformed

U.S. stocks ended higher on Thursday, with tech shares outperforming, as investors reacted to the latest economic data and awaited earnings from some of the biggest technology companies. The Dow Jones Industrial Average rose 139.16 points, or 0.52%, to 26,659.11. The S&P 500 rose 39.08 points, or 1.19%, to 3,310.11. The Nasdaq Composite gained 180.72 points, or 1.64%, to 11,185.59.

Oil futures declined Thursday to post their lowest settlement in roughly five months, as rising COVID-19 cases sparked tighter restrictions on activity in Europe and underlined worries about the outlook for the U.S. and global economic recovery. West Texas Intermediate crude for December delivery fell $1.22, or 3.3%, to settle at $36.17 a barrel. December Brent crude lost $1.47, or 3.8%, at $37.65 a barrel.

Twitter Inc (TWTR) on Thursday added fewer users than Wall Street had expected. Twitter said total revenue grew 14% year-over-year to $936 million during the quarter ended Sept. 30.

Starbucks (SBUX) reported better-than-expected fiscal fourth-quarter earnings results and same-store sale. Revenue (adjusted): $6.2 billion versus $6.06 billion. Earnings per share (adjusted): 33 cents versus 31 cents.

Google parent Alphabet (GOOG, GOOGL) reported its Q3 2020 earnings on Thursday, beating analysts’ expectations. Revenue ex-TAC: $38.01 billion versus $35.35 billion expected. Earnings per share: $16.40 versus $11.42 expected.