Wall Street rises to pull S&P 500 back nearly to record high

U.S. stocks rose Thursday to pull the Standard & Poor's 500 index back within 1% of its record following a rough April. The S&P 500 rose 26.41 points, or 0.5%, to 5,214.08. The Dow Jones industrial average gained 331.37 points, or 0.8%, to 39,387.76, and the Nasdaq composite added 43.51 points, or 0.3%, to 16,346.26. A report showing a pickup in layoffs helped to support the market.

The results were encouraging after some recent warnings by big food and drink companies about how much pressure their customers, particularly lower-income ones, are feeling. Airbnb sank 6.9% despite topping expectations for profit and revenue. It said an earlier Easter pulled more of its business this year into the first quarter from the second quarter. Beyond Meat, the maker of plant-based meat substitutes, fell 14.

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