Stocks Ended Higher on Fresh Hope of Fiscal Aid

U.S. stocks ended higher on Thursday, erasing opening losses, after Democratic Senate Minority Leader Chuck Schumer said McConnell agreed to restart negotiations over a new coronavirus aid relief package. The Dow Jones Industrial Average rose 44.81 points, or 0.15%, to 29,483.23. The S&P 500 added 14.08 points, or 0.39%, to 3,581.87. The Nasdaq Composite gained 103.11 points, or 0.87%, to 11,904.71.

Oil futures edged lower Thursday, with U.S. prices posting their first loss in four sessions, as a persistent rise in COVID-19 cases in the U.S. and around the world highlighted worries about crude demand, overshadowing positive news on the vaccine front. December West Texas Intermediate crude fell 8 cents, or 0.2%, to settle at $41.74 a barrel. January Brent crude lost 14 cents, or 0.3%, at $44.20 a barrel.

Senate Minority Leader Chuck Schumer said Senate Majority Leader Mitch McConnell agreed to re-start negotiations for a virus-relief package, according to CNBC.