U.S. markets ended higher on Thursday, buoyed by a sharp rally in Nvidia after strong demand for AI computing prompted the world’s largest company to forecast a 70% increase in revenue next fiscal year. Sentiments remained upbeat as a report released by the Labor Department unexpectedly showed that a modest decline in first-time claims for U.S. unemployment benefits in the week ended August 22, 2026. The Labor Department said initial jobless claims dipped to 203,000, a decrease of 4,000 from the previous week’s revised level of 207,000. Street had expected jobless claims to inch up to 208,000 from the 206,000 originally reported for the previous week. Meanwhile, traders were also reluctant to make more significant moves ahead of Federal Reserve Chairman Kevin Warsh’s speech at the Jackson Hole economic symposium on Friday.
Nasdaq surged by 411.15 points or 1.57 percent to 26,541.35, S&P 500 jumped by 55.29 points or 0.72 percent to 7,730.99 and Dow Jones Industrial Average was up by 105.56 points or 0.2 percent to 53,569.44.
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