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U.S. Stocks Close Higher on Thursday, Led by Technology Shares

U.S. stocks closed higher on Thursday, led by gains in technology shares. The Dow Jones Industrial Average rose 408.63 points, or 1.24%, to 33,420.77. The S&P 500 gained 48.87 points, or 1.19%, to 4,158.77. The Nasdaq Composite Index added 157.51 points, or 1.28%, to 12,500.57.


All 11 major S&P 500 sectors closed higher, with technology leading the way with a gain of 1.7%. The energy sector also rose 1.6%, as oil prices rebounded from recent losses.

The gains in stocks came as investors digested a mixed bag of economic data. The Labor Department reported that initial jobless claims rose by 21,000 to 229,000 for the week ended May 14. However, the Commerce Department said that retail sales increased by 0.9% in April, beating expectations.


Investors are also looking ahead to the Federal Reserve's interest rate decision on Wednesday. The Fed is widely expected to raise interest rates by 50 basis points, but some investors are concerned that the central bank may raise rates more aggressively in an effort to combat inflation.


Biggest Winners and Losers


The biggest winners on the S&P 500 on Thursday were:


  • Tesla (TSLA): +6.7%

  • Nvidia (NVDA): +6.3%

  • Microsoft (MSFT): +5.9%

  • Alphabet (GOOGL): +5.7%

  • Amazon (AMZN): +5.6%

The biggest losers on the S&P 500 on Thursday were:


  • Occidental Petroleum (OXY): -5.3%

  • Marathon Petroleum (MPC): -4.8%

  • Valero Energy (VLO): -4.7%

  • Exxon Mobil (XOM): -4.6%

  • Chevron (CVX): -4.5%

Overall, the stock market closed higher on Thursday, led by gains in technology shares. Investors are looking ahead to the Federal Reserve's interest rate decision on Wednesday.


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