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Wall Street's major market averages shifted higher on Thursday, as initial jobless claims came in lower than expected.
The S&P 500 (SP500) was +1.8%, the Nasdaq 1Composite (COMP:IND) was +2.1%, and the Dow (DJI) was +1.3%.
The 10-year Treasury yield (US10Y) was rose 4 basis points to 4.00%. The 2-year yield (US2Y) was up 9 basis points at 4.07%.
Initial jobless claims dropped more than expected in the past week and came at 233K vs. 241K consensus.
Wall Street went through a volatile session on Wednesday, starting out strongly but eventually closing lower. The sentiment was in part dented by a soft $42B bond market auction.
"Yesterday was another topsy-turvy August day for markets, as an initially buoyant mood following dovish remarks from BoJ officials that we mentioned yesterday morning slowly faded through the course of the day," Deutsche Bank's Jim Reid said.
"Equity markets have been meandering rather than moving with clear direction. The unwinding of more speculative trades should have concluded, allowing economic fundamentals to gradually reassert themselves," UBS' Paul Donovan said.
June wholesale inventories increased. Wholesale inventories increased 0.2% M/M to $903.0B, as expected.