Wall Street rebounds as oil gains offset data
A report showed U.S. business inventories fell 1.1 percent in January.
U.S. weekly jobless claims data showed further deterioration in the labor market.
New York crude oil futures jumped 4 percent.
The Dow Jones industrial average gained 42.29 points, or 0.61 percent, to 6,972.69. The Standard & Poor's 500 Index rose 5.66 points, or 0.78 percent, to 727.02. The Nasdaq Composite Index added 2.88 points, or 0.21 percent, to 1,374.52.
(Reporting by Rodrigo Campos; Editing by James Dalgleish)