Stocks rally on debt ceiling deal | Big jobs report on Friday | Names to buy, sell if oil hits $100

Stocks roared higher on Thursday as investors cheered a short-term solution to the debt ceiling issue in Washington.

VIEW IN BROWSER | SUBSCRIBE THU, OCT 07, 2021 EVENING BRIEF AS OF THU, OCT 07, 2021 • 04:55 ET DJIA 34754.94 +0.98% +337.95 S&P 500 4399.76 +0.83% +36.21 NASDAQ 14654.02 +1.05% +152.10   Most Active DOW NAME LAST CHG %CHG AAPL 143.29 +1.29 +0.91% INTC 54.18 +0.20 +0.37% MSFT 294.85 +1.74 +0.59% S&P 500 NAME LAST CHG %CHG F 14.89 +0.77 +5.45% AAPL 143.29 +1.29 +0.91% T 27.09 +0.30 +1.12% NASDAQ NAME LAST CHG %CHG AAPL 143.29 +1.29 +0.91% AMD 106.45 +2.81 +2.71% FB 329.22 -4.42 -1.32%   EDITOR'S NOTE Stocks roared higher on Thursday as investors cheered a short-term solution to the debt ceiling issue in Washington.   The major averages rose solidly, bringing them well into the green for the week. Stocks hit their session highs when Senate Majority Leader Chuck Schumer said lawmakers reached a deal on a short-term debt ceiling increase. The compromise will extend the debt ceiling through early December.   Also helping sentiment on Thursday, jobless claims fell sharply last week as the enhanced benefits ended, the Labor Department reported. Initial filings for unemployment totaled 326,000 for the week ended Oct. 2, below the 345,000 Dow Jones estimate and a drop from the previous week's 364,000.   Up next is Friday's closely watched nonfarm payroll report for September. Economists polled by Dow Jones expect 500,000 jobs were added last month, up from August's 235,000 jobs.   September's labor report is a smaller hurdle to clear after August's disappointing read, according to George Goncalves, head of U.S. macro strategy at the Institutional Client Group for MUFG. Beyond the payroll number, investors will be watching what happens with wages and the labor force participation rate. There is growing concern that accelerating wage costs are starting to pressure companies' profit margins.    A strong jobs report could set the market up nicely heading into earnings season, which starts next week. Maggie Fitzgerald | CNBC Markets Reporter @mkmfitzgerald Watch our live stream for all you need to know to invest smarter. TOP NEWS  Dow rises 300 points as investors cheer short-term debt ceiling solution Lawmakers have a deal on a short-term debt ceiling increase, Senate Majority Leader Schumer says Pfizer asks FDA to authorize Covid vaccine for kids ages 5 to 11 The stocks to buy — and sell — if oil hits $100, according to JPMorgan Fed Governor Lael Brainard is in line for a key banking position. Here's what it could mean for Wall Street Jobless claims post sharp decline to 326,000, better than expectations Cramer says he thinks the world of Disney, and sees it as a reopening stock, not a stay-at-home play Wharton's Jeremy Siegel says the Fed may taper faster than expected, which could spook the market IBM says all U.S. employees must be vaccinated by Dec. 8 or face unpaid suspension House committee probing Capitol riot subpoena organizers of Jan. 6 pro-Trump rally   TOP VIDEO Bitcoin tops $55K in 'make or break' week for institutional buyers   CNBC PRO Blackstone's Byron Wien says stock market is fairly valued, years of 20% returns are behind us   SPECIAL REPORTS Seniors' group calls for Congress to send $1,400 stimulus checks to Social Security recipients Supply-chain challenges plague pumpkin patch   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2021 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS Watch our live stream for all you need to know to invest smarter.