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Stocks rose Thursday, as investors looked to recover from declines seen in the previous session. Wall Street also weighed post earnings moves from Nvidia and Salesforce.
The Dow Jones Industrials galloped 300.82 points to stop for lunch Thursday at 41,392.24.
The S&P 500 regained 41.32 points to 5,633.50.
The tech-heavy NASDAQ gained 196.97 points, or 1.1%, to 17,753.
Nvidia was down 3% after posting its latest earnings Wednesday afternoon. In its fiscal second quarter, the AI chipmaker exceeded expectations on the top and bottom lines, and issued a rosy current-quarter sales outlook.
That decline was offset by a pop in Salesforce earlier in the day. Shares traded higher in the morning after the business software giant beat fiscal second-quarter estimates and raised its full-year profit outlook, although the stock was last trading 0.6% down.
Economic data released Thursday lent support to the stock market. Weekly jobless claims fell from the prior week, further easing recession concerns. In addition, second-quarter gross domestic product was revised higher to 3% growth from an initial 2.8% rate.
Prices for the 10-year Treasury inched lower, raising yields to 3.88% from Wednesday’s 3.84%. Treasury prices and yields move in opposite directions.
Oil prices regained $1.78 to $76.30 U.S. a barrel.
Gold prices hiked $14.70 to $2,552.50.
