Dow Jones spikes over 500 points

US stock indices rose on Thursday following mixed data, while analysts continue to assess the Fed's meeting minutes. 

The Fed's minutes released yesterday showed total readiness to tighten the monetary policy further to control runaway inflation.

US GDP shrank 1.5% in the first quarter of the year, missing estimates of 1.3%, while analysts expected a 1.3% decline, after a 6.9% rise in the fourth quarter of 2021. 

US unemployment claims fell to 210 thousand in the week ending May 21 from 218 thousand in the previous reading, beating estimates of 217 thousand. 

Dow Jones rose 1.4% to 32,574, while S&P 500 rose 1.5% to 4,037, as NASDAQ added 1.7% to 11,630.