US stocks close higher, after strong growth data

The major US stock indices rose on Thursday, after the release of strong economic data that showed growth in GDP and a drop in the unemployment claims.

The US Department of Labor reported today that the unemployment claims fell 40,000 to 751,000 during the past week.

While the advanced reading for the US GDP showed growth by 33.1% during the third quarter.

Otherwise, the rising number of Covid-19 infections has forced some governments around the world to re-impose lockdown restrictions to curb the deadly pandemic.

To the oil market, WTI crude December futures at Nymex fell 3.9% or $1.22, and closed at $36.17 a barrel, after hitting a day high of $37.7 and a low of $34.9.

Brent October futures fell 3.5% or $1.38, to $38.26 a barrel, with a high of $39.4 and a low of $36.6.

As for stocks, Dow Jones rose 0.5% or 139 points, and closed at 26, 659 points, after it hit a day high of 26,891, and a low of 26,290 points.

Nasdaq rose 1.6% or 180 points, to 11,185 points, with a high of 11,287 and a low of 11,030 points.

S&P 500 rose 1.2% or 39 points, to 3,310 points, after hitting a high of 3,390 points and a low of 3,259 points.