Nasdaq up 3% as market jumps following US jobless claims data
Eli Lilly gains after lifting annual sales forecast
Under Armour rallies on better-than-feared Q1 results
Indexes up: Dow 1.9%, S&P 500 2.4%, Nasdaq 3%
Updates to 2:30 p.m. ET
By Caroline Valetkevitch
NEW YORK, Aug 8 (Reuters) - The Nasdaq surged more than 3% on Thursday as U.S. stocks rallied after U.S. jobless claims fell more than expected in the latest week, soothing worries the labor market was weakening too quickly.
The S&P 500 was up more than 2%, with technology-related megacaps giving it the biggest boost. The technology .SPLRCT sector rose 3.5%, with communication services .SPLRCL sector up 2.5% in afternoon trading.
Among the S&P 500's biggest gainers, shares of EliLilly LLY.N were up 9.5% after the drugmaker raised its annual profit forecast, and sales of its popular weight-loss drug Zepbound crossed $1 billion for the first time in a quarter.
Data showed the number of new applications last week for unemployment benefits fell more than expected.
"Our reading on this is the labor market continues to be OK... The recession fears at this point are probably a little overblown," said Paul Nolte, senior wealth advisor and market strategist for Murphy & Sylvest in Elmhurst, Illinois.
Last week's disappointing jobs report for the month of July sparked fears of a potential U.S. recession and stocks sold off as market volatility rose.
The Dow Jones Industrial Average .DJI rose 721.77 points, or 1.86%, to 39,485.22, the S&P 500 .SPX gained 124.91 points, or 2.40%, to 5,324.41 and the Nasdaq Composite .IXIC added 485.10 points, or 3%, to 16,680.91.
The second-quarter earnings season is winding down, but investors are watching final results closely after some disappointments earlier in the reporting period.
Under Armour UAA.N surged 19% after the sports apparel maker posted a surprise first-quarter profit, benefiting from its efforts to cut inventory and promotions.
Advancing issues outnumbered declining ones on the NYSE by a 3.27-to-1 ratio; on Nasdaq, a 2.71-to-1 ratio favored advancers.
The S&P 500 posted 6 new 52-week highs and 4 new lows; the Nasdaq Composite recorded 28 new highs and 162 new lows.
Jobless rolls and the workforce https://reut.rs/4copgYN
Additional reporting by Shubham Batra and Shashwat Chauhan in Bengaluru; Editing by Varun H K, Shinjini Ganguli and Saumyadeb Chakrabarty
Aloqador aktivlar
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
