Stocks climb on US jobs figure

Major U.S. stock indexes rose after Senate Majority Leader Chuck Schumer said lawmakers had reached a deal on a short-term debt-limit extension, potentially putting off a government default standoff for a couple of months. The S&P 500 climbed 0.83% to 4399.76. The Dow Jones Industrial Average gained 0.98% rising to 34754.94 while the Nasdaq Composite was higher by 1.05% at 14638.50. Treasury yields ticked up ahead of a key American jobs report.

European stocks had their biggest gain in more than two months as concerns over the energy crisis eased and investors were reassured by the European Central Bank considering fresh support to prevent market turmoil when emergency aid is phased out. Stoxx 600 Europe Index gained 1.60% on Thursday, DAX increased by 1.85%, and CAC 40 lost 1.65%, while FTSE 100 dropped by 1.17%. Most maturities along the German sovereign yield curve were little changed, while 4-year yields fell in Thursday afternoon trading.

Asian stocks rallied, boosted by a rebound in technology shares and optimism over the progress made toward a U.S. debt-ceiling accord.

Oil prices shook off early losses to turn positive on Thursday on indications that the United States may not release emergency crude reserves to combat rising prices and putting focus back on tight global supply. Brent crude futures price was $81.95 a barrel on Monday, up 1.07%. U.S. West Texas Intermediate (WTI) crude futures stood at $78.30, up 1.12%.