(Bloomberg) -- U.S. stocks rose a day after their biggest rout in four months, with investors encouraged by better-than-forecast economic data even as they kept a wary eye on growing coronavirus infections. Oil fell for a second day on concern lockdowns will sap demand.The Nasdaq 100 and S&P 500 headed to their biggest gains in two weeks ahead of earnings reports from Apple Inc., Amazon.com Inc., Alphabet Inc. and Facebook Inc. due after the close. Automakers were also among the best performers after reports showed record growth in the third quarter and a drop in weekly jobless claims. The dollar strengthened and Treasury yields ticked higher.In Europe, stocks edged lower. The euro extended its decline after the European Central Bank paved the way for a package of fresh easing in December to deal with a worsening economic outlook.Even with Thursday’s gains, global equities are headed for the worst weekly decline since March amid new lockdown measures and U.S. politicians’ failure to agree to a stimulus plan before the Nov. 3 election. Even with an effective vaccine, it could take until the end of 2021 at least for social life in the U.S. to return to normal, Anthony Fauci, the U.S. government’s top infectious disease doctor said on a Facebook live event Thursday.“More positive developments on unemployment claims and jobless claims was definitely good to see,” said Michael Reynolds, investment strategy officer at Glenmede Trust. “We’re looking for signs, as we see increased cases, that economic data doesn’t fall off a cliff as well.”Facebook and Alphabet are expected to report revenue growth aided by a rebound in the market for digital-advertising when they release third-quarter earnings later Thursday. Performance by peers Snap Inc. and Pinterest Inc. suggest that user growth generated by pandemic lockdowns is starting to boost spending as brands shift ad budgets to online platforms.Stocks slumped in Asia, with losses for the main indexes in Japan, Australia and Hong Kong.Here are the main market moves:StocksThe S&P 500 Index rose 1.3% as of 1:44 p.m. New York time.The Nasdaq 100 Index increased 2.1%.The Stoxx Europe 600 Index fell 0.1%.The MSCI Asia Pacific Index decreased 0.3%.CurrenciesThe Bloomberg Dollar Spot Index increased 0.5%.The British pound declined 0.6% to $1.2908.The euro weakened 0.8% to $1.1652.The Japanese yen fell 0.3% to 104.68 per dollar.BondsThe yield on 10-year Treasuries rose five basis points to 0.83%.Germany’s 10-year yield declined one basis point to -0.64%.Britain’s 10-year yield rose one basis point to 0.22%.CommoditiesWTI crude declined 3.1% to $36.23 a barrel.Gold weakened 0.5% to $1,858.58 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.