Reuters

The number of Americans filing for unemployment benefits unexpectedly fell last week, pointing to a tightening labor market and strengthening economy at the start of the year.

Oil prices rose on Thursday after a survey showed OPEC’s commitment to its supply cuts remains in place, even as U.S. production topped 10 million barrels per day for the first time since 1970.

World stocks rose on Thursday after three days of losses and European shares opened higher, although U.S. and German bond yields near multi-year highs checked the gains and kept stocks from regaining recent record highs.

China’s manufacturing sector sustained growth at multi-month highs in January, a private business survey showed on Thursday, as factories continued to raise output to meet new orders, suggesting resilience in the world’s second-largest economy.

The dollar held steady against a basket of major currencies on Thursday after the Federal Reserve signaled its confidence about inflation and growth in the world’s biggest economy, reinforcing views it will raise rates several more times this year.

The U.S. Federal Reserve kept interest rates unchanged on Wednesday but said inflation likely would rise this year, bolstering expectations borrowing costs will continue to climb under incoming central bank chief Jerome Powell.

U.S. private sector payrolls rose at a brisk pace in January as hiring increased across the board despite unseasonably cold weather, pointing to sustained labor market strength at the start of the year.

The Canadian economy accelerated in November by the most in six months, with growth broad-based across a number of sectors including manufacturing, oil and gas extraction, and real estate, data from Statistics Canada showed on Wednesday.

European shares staged a partial recovery from a slump in the previous session as investors surveyed a mixed bag of results from some of the region’s biggest industrial names.

Japan’s industrial output grew in December at the fastest pace in eight months, and up for a third straight month, in a sign that its humming factories have likely driven economic expansion for an eighth consecutive quarter.