Wall Street climbs after GDP and labor data

US stock indices rose on Thursday after recent data confirmed the strength of the labor sector.

Earlier government data showed US unemployment claims down to 236 thousand in the week ending June 21, while analysts expected 244 thousand.

US GDP shrank 0.5% y/y in the first quarter according to the final reading, compared to a 0.2% contraction in the previous reading. 

On trading, Dow Jones rose 0.7% as of 15:38 GMT, or 286 points to 43,270 points, while S&P 500 added 0.5%, or 34 points to 6126 points, as NASDAQ climbed 0.5%, or 112 points to 20086 points.