Stocks overcame a midday stumble and ended broadly higher on Wall Street, pushing the S&P 500 to another record high.
The benchmark index rose 0.7% Thursday. Communications companies powered a big part of the gain, led by a 7.3% leap in Facebook after the company reported big growth in digital ad revenue.
Investors got several encouraging reports indicating that the economy is gaining momentum as it emerges from a recession brought on by the pandemic.
The government reported that the economy grew last quarter at a vigorous 6.4% annual rate, and applications for unemployment aid fell again last week.
Treasury yields rose.