Stocks Ended Higher after Upbeat Jobless Claims Data

U.S. stocks ended higher on Thursday, after new economic data showed a bigger dip in new unemployment claims than expected. The Dow Jones Industrial Average rose 300.19 points, or 0.99%, to 30,603.36. The S&P 500 gained 36.61 points, or 0.98%, to 3,787.38. The Nasdaq Composite added 66.56 points, or 0.50%, to 13,337.16.

Oil futures settled with a loss on Thursday, as traders monitored slowing travel activity in China amid new COVID-19 infections and unease over the pace of vaccine rollouts in Europe which are weighing on energy demand. West Texas Intermediate crude for March delivery fell by 51 cents, or 1%, to settle at $52.34 a barrel. March Brent crude declined by 28 cents, or 0.5%, to $55.53 a barrel.

Visa Inc reported a 4% fall in quarterly profit on Thursday, hurt by lower cross-border spending volumes as the COVID-19 pandemic hammered the global travel industry. Net income fell to $3.13 billion, or $1.42 per Class A share, for the first quarter ended Dec. 31, from $3.27 billion, or $1.46 per Class A share, a year earlier.