US STOCKS-Wall St climbs with oil after claims data, Pfizer deal
* Pfizer to buy Hospira for about $15 billion
* Twitter gains after Bloomberg reports deal with Google
* Michael Kors tumbles after results, outlook
* Indexes up: Dow 0.52 pct, S&P 0.47 pct, Nasdaq 0.43 pct (Updates to market open)
By Chuck Mikolajczak
NEW YORK, Feb 5 (Reuters) - U.S. stocks advanced on Thursday, bouncing back from a late selloff in the prior session thanks to higher oil prices, an upbeat report on the labor market, and news Pfizer would buy Hospira in a massive deal.
Weekly jobless claims rose to 278,000 last week, below expectations calling for 290,000 claims. The report comes on the heels of a private payrolls report that fell short of expectations on Wednesday and ahead of a monthly employment report on Friday.
"Employment continue to improve at a fairly moderate pace, which feels breakneck compared to the past, which means people are getting jobs and that is a big positive for the economy," said David Heidel, regional investment strategist at U.S. Bank Wealth Management in Minneapolis, Minnesota.
"The problem is every time we get confirmation that the jobs picture is improving, it also sparks worries the Federal Reserve will act sooner than later to raise rates and continues this schizophrenic up and down forces on risk assets like equity prices." Continuación...