NEW YORK - After two straight routs, Wall Street stocks finished higher on Thursday as beaten-down banking shares rallied despite another spike in jobless claims.
The broad-based S&P 500 gained 1.2 per cent to 2,852.50, while the tech-rich Nasdaq Composite Index advanced 0.9 per cent to 8,943.72. The new data brings the total job destruction since economic shutdowns began in mid-March to 36.5 million, a figure rivaled only by the Great Depression 90 years ago. Leading banks enjoyed a positive session, with Bank of America, Citigroup and JPMorgan Chase all piling on more than three percent.
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