Nasdaq and S&P 500 rise to records after upbeat data

The US stock indices opened higher on Thursday, after the release of upbeat economic data, and Nasdaq and S&P 500 hit new records.

The US Department of Labor revealed that the number of initial unemployment claims fell to 411K last week from 418K, while analysts forecast 382K.

The second reading of the US GDP showed a growth by 6.4% during the first quarter of 2021 as expected.

The markets are absorbing Fed Chief Jerome Powell's hints on Tuesday that the Fed will adopt a patient approach before raising interest rates.

As for stocks, Dow Jones rose 0.8% or 275 points to 34,148 as of 14:19 GMT, and S&P 500 rose 0.6% or 25 points to 4,266, while Nasdaq rose 0.8% or 114 points to 14,386.