US benchmark equity indexes ended higher Thursday following strong earnings from Microsoft (MSFT) and Meta Platforms (META) and as markets await Apple (AAPL) and Amazon.com (AMZN) results after the closing bell.

* Meta shares rose 4.8%. The company's Q1 earnings and revenue climbed more than Wall Street expected. Several analysts raised their price targets on the stock.

Microsoft shares surged 7.6%. The company's fiscal Q3 earnings and sales rose more than analysts expected, partly on demand for cloud products.

* The Institute for Supply Management's US manufacturing index fell to 48.7 in April from 49.0 in March, compared with expectations of 47.9 in a survey compiled by Bloomberg. The April reading is a five-month low and the second consecutive print in contractionary territory, according to a Stifel note.

* US initial jobless claims rose to 241,000 in the week ended April 26 from an upwardly revised 223,000 in the previous week, compared with expectations for 223,000 in a survey of analysts compiled by Bloomberg. The April print is the highest since February, according to Stifel.

Claims jumped largely because of an increase in the state of New York, as workers such as janitors and bus drivers in public schools applied for benefits during the spring break period, the Stifel note said.

* June West Texas Intermediate crude oil closed up $0.86 to settle at $59.07 per barrel, while July Brent crude, the global benchmark, was last seen up $0.87 to $61.93 as investors move to add risk assets.

* Eli Lilly (LLY) shares sank 11.6%, the second-worst performer on the S&P 500. The drugmaker slashed its full-year earnings outlook.