Stocks Ended Higher, S&P 500 and Nasdaq Hit Record Highs

U.S. stocks ended higher on Thursday, with the S&P 500 and Nasdaq Composite closing at records as investors appeared to cheer economic data and a continued run of upbeat corporate earnings. The Dow Jones Industrial Average rose 332.26 points, or 1.08%, to 31,055.86. The S&P 500 advanced 41.57 points, or 1.09%, to 3,871.74. The Nasdaq Composite gained 167.20 points, or 1.23%, to 13,777.74.

Oil futures extended their streak of gains on Thursday, with U.S. prices up for a fourth consecutive session to mark their highest settlement in more than a year. West Texas Intermediate crude for March delivery rose 54 cents, or 1%, to settle at $56.23 a barrel. April Brent crude added 38 cents, or nearly 0.7%, to $58.84 a barrel.

Image-sharing company Pinterest Inc reported better-than-expected quarterly results on Thursday, benefiting from strong user growth and heavy advertising by e-commerce retailers during the holiday season. Total revenue soared 76% to $706 million. Excluding items, Pinterest earned 43 cents per share, more than estimates of 32 cents per share.