US stocks resumed gains on Thursday with the S&P 500 inching closer toward record levels as investors weighed how deeply the Federal Reserve might lower interest rates in September on the eve of a key speech by Chair Jerome Powell. Both the broader market index and the tech-heavy Nasdaq Composite rose roughly 0.5%. The Dow Jones Industrial Average was up 0.2%, after the three indexes closed in the green on Wednesday.
The Fed's Jackson Hole symposium kicks off Thursday with the market on high alert for any shift in tone from the policymakers when Powell speaks at the event on Friday. Initial jobless claims jumped to 232,000 last week, matching expectations, while the prior week's reading was revised up to 228,000.
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