Stocks climbed Thursday, after fresh data underscored the resilience of the US economy in the face of the Federal Reserve’s interest-rate hikes.
The Dow Jones Industrial Average (^DJI) rose around 0.5%, getting some uplift from gains for JPMorgan Chase (JPM) and Goldman Sachs (GS) after successful Fed stress tests. The S&P 500 (^GSPC) was up 0.3%, while the Nasdaq Composite (^IXIC) put on about 0.2%.
A sharp upward revision to second-quarter GDP and a fall in jobless claims on Thursday echoed recent releases reflecting strength in the economy, seen as providing scope for the Fed to keep raising rates.
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