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.
Department of Labor data showed that nearly three million more people applied for unemployment benefits last week, only a modest decline from the prior week's level and a grim reminder of the mounting toll taken by COVID-19 on American workers. Leading banks enjoyed a positive session, with Bank of America, Citigroup and JPMorgan Chase all piling on more than three per cent.
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