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Stock market today: S&P 500, Nasdaq surge after jobs data eases concerns over US economy

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Wall Street saw a comeback attempt falter on Wednesday, as stocks faded into the close and ended up with sizable declines

US stocks took a leap higher Thursday after weekly initial jobless claims fell more than forecast in a reassuring update on the health of the US labor market. The S&P 500 rose 1.7%, while the tech-heavy Nasdaq jumped to a session high of 2%. The Dow Jones Industrial Average was up about 1.8%.

3, down from 250,000 last week and fewer than what economists had forecast. The number added a fresh jolt into Thursday's trading. . The moves — from big gains to significant losses — continued a turbulent stretch that has pervaded markets for much of the past week. In individual movers, "Magnificent Seven" stalwart and AI giant Nvidia was in focus after another back-and-forth day left its stock down another 5%. The stock rose 2% in early trading.

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