U.S. stocks swung wildly on Thursday following back-to-back losses on Wall Street.
The Dow Jones Industrials regained 138 points to kick off Thursday at 31,408.09.
The S&P recovered 18.15 points to 3,837.87.
The NASDAQ Composite recaptured 40.61 points to 13,038.37.
Investors digested a better-than-expected reading on weekly jobless claims. First-time filings for unemployment insurance in the week ended Feb. 27 totaled 745,000, a touch below the Dow Jones estimate of 750,000, the U.S. Labor Department reported Thursday.
Federal Reserve Chair Jerome Powell is set to join The Wall Street Journal Jobs Summit to talk about the economy later Thursday.
Additional stimulus measures could also inject optimism into the market. The Senate is currently debating the $1.9-trillion relief package passed by the House on Saturday. President Joe Biden has backed a plan to cut the income caps for Americans to receive stimulus checks.
Prices for 10-Year Treasurys sagged, raising yields to Wednesday’s 1.47%. Treasury prices and yields move in opposite directions.
Oil prices zoomed $3.06 to $64.34 U.S. a barrel.
Gold prices slid a dollar to $1,714.80.