US Markets
U.S. stocks coasted higher Thursday as optimism increased that Greece will complete a debt-swap deal. Stocks opened higher and drifted near session highs in afternoon trading, despite a mixed report on weekly jobless claims. Both the S&P 500 and the Nasdaq had wiped out Tuesday's losses, which were the worst of the year. All sectors traded higher, with growth-sensitive materials and industrial stocks leading Thursday's advance. Alcoa, up 1.9%, and Caterpillar, up 1.7%, notched the Dow's biggest gains on a percentage basis. Shares of McDonald's weighed on blue chips, however, after the fast-food restaurant operator reported that global same-store sales grew slower than expected. Shares fell 3.3%, and were biggest decliners on both the Dow and the S&P 500. In U.S. economic data, the number of workers filing for new unemployment benefits rose 8,000 to a seasonally adjusted 362,000 last week, more than forecasts for a rise of 2,000. Also, outplacement firm Challenger, Gray & Christmas said planned layoffs announced by U.S. employers fell 3.3% in February. Thursday's news from the labor market precedes Friday's closely watched monthly employment report. Economists are forecasting that the unemployment rate will hold steady at 8.3% in February, and that the economy added 213,000 jobs.

European Markets
European stocks finished positively Thursday as investors became increasingly confident that participation in the Greek debt-swap program was escalating, which would clear the way for Greece to access its second bailout package worth EUR130 billion, while the European Central Bank's president appeared to be hawkish despite a cut in growth prospects for the euro zone. As confidence in the Greek private-sector involvement deal grew, Italian government bond yields fell to their lowest levels since mid-2011 and the euro climbed sharply against the dollar. Toward the end of the European session Thursday, Greek officials said the program was on track to exceed expectations. Private-sector creditors representing 75% of outstanding Greek debt have agreed to exchange their holdings for new debt. Private-sector bondholders had until Thursday evening to decide if they will accept the deal, which replaces existing bonds with a package of new securities with less than half the face value. The results are expected to be released on Friday. In equity markets, the benchmark Stoxx Europe 600 index closed up 1.6% at 264.16. Fears that too few of the bondholders would join the swap spooked markets on Tuesday, when European equity markets witnessed their biggest declines of 2012. Meanwhile, the ECB kept its key rate steady at 1.0%, as expected. The main focus though was the press conference hosted by ECB President Mario Draghi. Draghi said the central assumption of the Eurosystem's forecasters is now that the economy will shrink by 0.1% this year from 0.3% growth. For 2013, the ECB now expects growth of 1.1%, versus a prior forecast of 1.3%. This was the third quarter in a row that the ECB has lowered its growth estimate for this year. Despite the revisions, Ken Wattret, chief euro-zone economist at BNP Paribas, said the tone overall was hawkish with several bearish indicators seen previously in Draghi's press conference speeches not evident Thursday. Elsewhere in Europe, Germany's DAX increased 2.5% to 6834.54. There was some good news for the German economy, too, with the country's industrial production for January exceeding expectations. Production rose 1.6% on the previous month. France's CAC-40 index closed up 2.5% at 3478.36. The U.K.'s FTSE 100 closed 1.2% higher at 5859.73. The Bank of England also kept its key rate on hold Thursday at 0.5% and its asset-purchase scheme was held fast at GBP325 billion. At the close of European equity markets, the Dow Jones Industrial Average was 0.4% higher, and the Standard & Poor's 500-stock index was up 0.8%. In corporate news, Anheuser-Busch InBev ended up 3.6% following upbeat results. Retailer Carrefour finished 0.5% higher after it said it will reduce costs in 2012 following a drop in 2011 net profit. Elsewhere, the Italian 10-year yield sank 0.13 percentage point to 4.80% in late Europe, hitting its lowest level since June last year.

Asia-Pacific Markets
Asian stock markets ended higher Thursday with Tokyo, Shanghai and Hong Kong ending a three-day losing streak amid growing optimism about Greece's debt restructuring, while strong U.S. economic data supported regional exporters and resource shares. Japan's Nikkei Stock Average jumped 2.0%, Hong Kong's Hang Seng Index rose 1.3% and China's Shanghai Composite Index climbed 1.1%, with all three benchmarks rising for the first time this week. Also snapping this week's string of losses, South Korea's Kospi added 0.9%, Australia's S&P/ASX 200 gained 0.7%, and Taiwan's Taiex advanced 1.0%. The rally came after a positive finish on Wall Street Wednesday, following upbeat jobs data and a report pointing to the possibility the Federal Reserve could take more steps to boost the economy if needed. Signs of progress on a Greek debt restructuring deal also aided confidence that Athens will secure the required support for a private-sector debt swap by Thursday's deadline. Exporters and companies with global business interests benefited, with Toyota Motor climbing 2.6% and Nikon jumping 4.3% in Tokyo. Fast Retailing Co., a heavyweight constituent in the Nikkei, jumped 3.6%. Elsewhere, LG Electronics added 3.9% and Kia Motors Corp. advanced 2.1% in Seoul, Foxconn International Holdings jumped 5.2% in Hong Kong, and Hon Hai Precision Industry climbed 2.2% in Taipei. Resource firms partially recovered from recent losses, as commodity prices strengthened overnight. Jiangxi Copper Co. rose 1.7% in Hong Kong and 1.9% in Shanghai, while in Sydney, Fortescue Metals Group and BHP Billiton advanced 3.8% and 0.7%, respectively. Among energy sector plays, Woodside Petroleum gained 1.9% in Sydney, Inpex Corp. rose 1.6% in Tokyo and Cnooc climbed 1.1% in Hong Kong. Financials also bounced after losses earlier in the week, with Nomura Holdings rising 4.7% and Mitsubishi UFJ Financial Group rising 2.7% in Tokyo, Commonwealth Bank of Australia gaining 0.8% and Chinatrust Financial Holding climbing 2.4% in Taipei. Shares of Ping An Insurance Group Co. of China jumped 5.1%, Agricultural Bank of China added 2.5% and China Life Insurance added 1.4% in Hong Kong; in Shanghai, they added 2%, 0.7% and 1.4%, respectively.

Commodities
Base metals closed mostly higher on the London Metal Exchange Thursday as hopes for a successful Greek debt-swap deal continued to support prices, although initial gains were pared somewhat following cautious comments on the euro-zone economy by European Central Bank President Mario Draghi. At the close, LME three-month copper was 0.4% higher at $8,329 a metric ton, while nickel lagged the complex, closing 0.5% lower at $18,800/ton. Crude futures on Thursday extended gains to a second session amid growing optimism that Greece will be able to clinch its crucial debt-swap deal. Oil for April delivery rose 53 cents, or 0.5%, to $106.67 a barrel on the New York Mercantile Exchange. Gold futures advanced Thursday, on track to tally a second day in the black amid investor hope that Greece is on the verge of closing the deal on its crucial debt swap. Gold for April delivery added $13.10, or 0.8%, to $1,697 an ounce on the Comex division of the New York Mercantile Exchange.