U.S. Stocks Rally on Strong Jobs Data

U.S. stock markets closed higher Thursday after new data showed a resilient job market. The Dow Jones Industrial Average rose 0.6%. The S&P 500, a broader market index, climbed 0.26%. The technology-heavy Nasdaq Composite increased 0.25%. The gains followed a U.S. Labor Department report. It showed fewer people applied for unemployment benefits last week than economists expected. This indicates continued strength in employment. A strong job market supports consumer spending. This spending drives a large portion of the U.S. economy. Investors see the data as a positive sign for economic stability. All three major indexes recovered from losses earlier in the week. Market attention now turns to next week's key inflation report.