The U.S. Labor Department said first time unemployment claims rose by 12,000 in the week ending March 28 to 669,000 claims.

The European Central Bank said it would cut its key interest rates a quarter of a percentage point to 1.25 percent, prompting the euro to gain strength against the dollar.

By close, the Dow Jones industrial average gained 211.67 points, or 2.72 percent, to 7,975.67. The Standard & Poor's 500 rose 3.83 percent, 22.92 points, to 834.00. The Nasdaq composite index added 51.03 points, 3.29 percent, to 1,602.63.

On the New York Stock Exchange, 2,701 stocks advanced and 402 declined on a volume of 6.8 billion shares traded.

The benchmark 10-year U.S. Treasury bond fell 29/32 to yield 2.755 percent.

The euro rose to $1.3445, compared to Wednesday's $1.3232. Against the Japanese yen, the dollar rose to 99.52 yen, compared to Wednesday's 98.67 yen.

In Tokyo, the Nikkei average gained 367.87 points to 8,719.78, up 4.4 percent.

In London, the FTSE 100 index rose 4.28 percent, 169.36 points, to 4,124.97.

Bloomberg LP suit includes 80 plaintiffs NEW YORK, April 2 (UPI) -- A lawsuit charging New York Mayor Michael Bloomberg's media firm with pregnancy discrimination includes more than 80 plaintiffs, court records show.

Several of the women involved in the suit claim the harassment reached the point of putting their pregnancies at risk, the New York Post reported Thursday.

Court filings also claim that women who complained about the pregnancy-oriented harassment suffered further retaliation at Bloomberg LP, the mayor's financial reporting firm.

The complaints include "reduction in compensation, unfounded criticism of performance, reduction of job opportunities and threats of termination," the Equal Employment Opportunity Commission said. Others said their supervisors gave them extra work once it was discovered they were pregnant.

Bloomberg LP spokeswoman Judith Czelusniak said the company was "extremely confident," it had done nothing wrong.

One of the plaintiffs, Maria Mandalakis, said she twice went into premature labor after her supervisor ignored escalating health problems.

Her lawyer, Richard Roth, called the company's conduct "outrageous."

"It wholly ignores the sanctity of pregnancy," he said.

House committee asks for key AIG reports WASHINGTON, April 2 (UPI) -- Key congressional committee members have asked federal authorities for confidential records involving U.S. insurance giant American International Group Inc.