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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 regained 216.97 points to 42,131.72
The S&P 500 index recovered 28.21 points to 5,750.47, led higher by gains in Micron Technology
The NASDAQ Composite popped 111.17 points to 18,192.38.
Micron traded 18% 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 3.81% from Wednesday’s 3.79%. Treasury prices and yields move in opposite directions.
Oil prices sank $1.73 at $67.96 U.S. a barrel.
Gold prices nicked ahead $1.70 to $2,686.40 U.S. an ounce
