Dow climbs 199 points in late-day rebound led by stocks benefiting from reopening; European markets close slightly lower as Covid surge, Fed comments weigh on sentiment 
U.S. stocks staged a late-day comeback on Thursday, boosted by economic comeback plays as the market rebounded from a two-day losing streak. The S&P 500 closed 0.5% higher at 3,909.52, wiping out a 0.9% intraday loss. The Dow Jones Industrial Average gained 199.42 points, or 0.6%, to 32,619.48 after losing as much as 348 points. The Nasdaq Composite also eked out a 0.1% gain to close at 12,977.68 as some major technology stocks reserved losses. Tesla rose 1.6%, while Apple closed in the green. 
Investors pored over a better-than-expected reading on weekly jobless claims. The Labor Department said first-time claims for unemployment insurance totaled 684,000 for the week ended March 20, lower than an estimate of 735,000 from economists surveyed by Dow Jones. 
Oil prices fell more than 4% Thursday as demand concerns rekindled with fresh coronavirus pandemic lockdowns. 
The 10-year Treasury yield gained just 1 basis point to 1.64%. The benchmark rate hit a 14-month high last week above 1.7%. 

European stocks closed lower on Thursday, as investors considered the ramifications of a surge in coronavirus cases in the region, while comments from U.S. Federal Reserve Chairman Jerome Powell deepened losses. 
The pan-European Stoxx 600 finished 0.14% lower after trimming losses during afternoon trade. Oil and gas stocks lost 2% to lead losses while health care stocks bucked the trend to add 0.6%. Major bourses finished mixed as the German DAX and French CAC managed to end the session in positive territory. 
Cineworld shares tumbled 8% after it reported a $3 billion loss for 2020. Cineworld also plans to ask shareholders to approve a raise in its debt ceiling in order to secure its finances. 
Switzerland’s SoftwareONE saw its shares plunge more than 18% after its full-year earnings report and 2021 outlook. 
Source: CNBC