Stocks rose Thursday, regaining their footing after a mixed session, following the release of upbeat U.S. economic data.
The Dow Jones Industrials popped 240.52 points to 42,155.27
The S&P 500 index recovered 14.87 points to 5,737.12, hitting a fresh record, led higher by gains in Micron Technology
The NASDAQ Composite grabbed 68.2 points to 18,150.40.
Micron traded 14% higher after issuing strong guidance for the current quarter. Results for Micron’s fiscal fourth quarter also topped analysts’ estimates. Fellow semiconductor-linked stocks Applied Materials and Lam Research both rose 6% in sympathy.
Weekly jobless claims fell more than expected, pointing to a steady labor market. Durable goods orders for August were unchanged versus economists’ expectations for a decline. And the final reading of second-quarter GDP was unrevised at a strong 3%.
Prices for the 10-year Treasury dropped, lifting yields to 3.80% from Wednesday’s 3.79%. Treasury prices and yields move in opposite directions.
Oil prices sank $1.44 at $68.25 U.S. a barrel.
Gold prices nicked ahead $4.20 to $2,688.90 U.S. an ounce
