Wall Street snaps up shares in late-day scramble

Wall Street moved higher on Thursday, adding momentum to a recent recovery as the energy and financial sectors emerged into positive territory for the year.

It was the second straight day that stocks strengthened late in the session, a pattern that some investors view as sign of improving sentiment. The S & P has gained in five out of the last seven sessions.

" That is a positive and I think there' s reason to look at that with some hope," said Andrew Bodner, president of Double Diamond Investment Group in Parsippany, New Jersey. But Bodner said he remains cautious following the market' s recent volatility.

Earlier, a report showed that the number of Americans filing for unemployment benefits unexpectedly rose last week, but the underlying trend continued to point to a strengthening labor market.

Investors were also looking to Friday for a comprehensive labor report that is expected to show an addition of 190,000 jobs in February, up from a gain of 151,000 in January.

World stock markets touched a two-month high on Thursday, fueled by gains in emerging markets and a late rally on Wall Street, as concerns about global growth abated and commodities prices extended their recovery.

On Thursday, Brent crude LCOc1 rose 0.2 percent to $ 37.01 and U.S. crude CLc1 settled down 0.3 percent to $ 34.57.