Wall Street's main indexes opened higher on Thursday, supported by better-than-expected labor market data that helped ease concerns about a slowdown in the world's largest economy.
The Dow Jones Industrial Average rose 176.9 points, or 0.46 percent, to 38,940.38.
The S&P 500 gained 53.1 points, or 1.02 percent, to 5,252.57.
The Nasdaq Composite added 212.5 points, or 1.31 percent, to 16,408.265.
The number of Americans filing new claims for unemployment benefits fell more than expected last week, suggesting that fears of a deteriorating labor market were overblown and that the gradual improvement in the labor market remains intact.
Initial claims for state unemployment benefits fell 17,000 to a seasonally adjusted 233,000 for the week ended Aug. 3, the Labor Department said Thursday, the biggest drop in about 11 months.
Claims have been on an upward trend since June, partly due to volatility linked to temporary auto plant shutdowns for retooling and disruptions from Hurricane Beryl in Texas.
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