Wall Street stocks end little changed as oil prices gain

NEW YORK: Wall Street stocks finished almost flat on Thursday as oil prices bounced again, while the US reported another bruising round of jobless claims as a result of widespread coronavirus shutdowns.

Stocks were strongly positive in late morning, but pulled back following reports that a closely-watched coronavirus drug being developed by Gilead Sciences failed in its first randomized clinical trial. Petroleum-linked companies rallied, including Exxon Mobil, up 3.1 per cent, and Halliburton, up 8.4 per cent.

Expedia jumped 3.2 per cent after it announced it had raised US$3.2 billion from investment groups Silver Lake and Apollo, which each will have a seat on the board of the travel company. Expedia also named former Tribune Media head Peter Kern as its new CEO.

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