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Stocks rose Thursday, regaining their footing after a mixed session, following the release of upbeat U.S. economic data.
The Dow Jones Industrials rushed forward 260.36 points to 42,175.11
The S&P 500 index recovered 23.11 points to 5,745.37, 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 rose 4% and Lam Research rose 5% 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 $2.37 at $67.32 U.S. a barrel.
Gold prices surged $10.60 to $2,695.30 U.S. an ounce
