US stocks jumped Thursday, as the S&P 500 closed at a record high. Investors welcomed a slew of updates, including solid US economic data, Micron's upbeat earnings, and China's pledges of more stimulus. The Dow Jones Industrial Average rose 0.62%, while the S&P 500 added more 0.4% to close at a record high of 5,745.39. The tech-heavy Nasdaq Composite gained 0.6% amid a sharp spike in Micron's shares, which boosted other chips.
Meanwhile, China's top leaders signaled they are pulling out the stops to revive its moribund economy with new pledges to lift fiscal spending, halt the property crisis, and support the stock market. A big jump in mainland stocks set the CSI 300 on track for its best week in a decade. Up next, Friday will bring a highly anticipated reading on the Persona Consumption Expenditures index, the inflation metric preferred by the Fed.
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