U.S. stocks rose on Thursday as improved labor market and retail sales data added to optimism.
Data from payrolls processor Automatic Data Processing showed that U.S. private hiring increased by 157,000 in June, more than doubled the market estimates of 68,000.
Meanwhile, according to the Labor Department, the number of people applying for jobless benefits fell 14,000 to a seasonally adjusted 418,000 last week, slightly better than expected. The reading was also reached a seven-week low.
Investors gained confidence from both job reports as they waited for Friday's non-farm payroll report from the Labor Department, which will provide wider picture of current employment situation and is very likely to set the tone for the market in following one or two weeks..
They believed that the positive signs from job market suggested that the overall economy might be starting to strengthen now and the recent slowdown in the economy might only be temporary.
Moreover, solid performance in retail sales in June stimulated optimism. The Thomson Reuters Same-Store Sales Index rose 6.5 percent in June, topping analyst estimate of a 4.9 percent gain. As for company news, NYSE Euronext shareholders on Thursday approved the company's about 9.53 billion dollars takeover by Deutsche Boerse AG.
With 96 percent of the shares voted favoring the combination, the takeover may make the two exchange the world's biggest exchange group.
The deal now was still pending as it needs approval from 75 percent of Frankfurt-based Deutsche Boerse shareholders by July 13.
As for oil, crude prices surged on Thursday as U.S job data and retail sales came in positive and crude inventories declined last week.
Meanwhile, the U.S. dollar traded mixed against major currencies in late New York trading on Thursday as the European Central Bank (ECB) raised key interest rate and upbeat U.S. job data lifted optimism.
The Dow Jones industrial average rose 93.47 points, or 0.74 percent, to 12,719.49. The Standard & Poor' s 500 was up 14.00 points, or 1.05 percent, to 1,353.22. The Nasdaq Composite Index gained 38.64 points, or 1.36 percent, to 2, 872.66.
Data from payrolls processor Automatic Data Processing showed that U.S. private hiring increased by 157,000 in June, more than doubled the market estimates of 68,000.
Meanwhile, according to the Labor Department, the number of people applying for jobless benefits fell 14,000 to a seasonally adjusted 418,000 last week, slightly better than expected. The reading was also reached a seven-week low.
Investors gained confidence from both job reports as they waited for Friday's non-farm payroll report from the Labor Department, which will provide wider picture of current employment situation and is very likely to set the tone for the market in following one or two weeks..
They believed that the positive signs from job market suggested that the overall economy might be starting to strengthen now and the recent slowdown in the economy might only be temporary.
Moreover, solid performance in retail sales in June stimulated optimism. The Thomson Reuters Same-Store Sales Index rose 6.5 percent in June, topping analyst estimate of a 4.9 percent gain. As for company news, NYSE Euronext shareholders on Thursday approved the company's about 9.53 billion dollars takeover by Deutsche Boerse AG.
With 96 percent of the shares voted favoring the combination, the takeover may make the two exchange the world's biggest exchange group.
The deal now was still pending as it needs approval from 75 percent of Frankfurt-based Deutsche Boerse shareholders by July 13.
As for oil, crude prices surged on Thursday as U.S job data and retail sales came in positive and crude inventories declined last week.
Meanwhile, the U.S. dollar traded mixed against major currencies in late New York trading on Thursday as the European Central Bank (ECB) raised key interest rate and upbeat U.S. job data lifted optimism.
The Dow Jones industrial average rose 93.47 points, or 0.74 percent, to 12,719.49. The Standard & Poor' s 500 was up 14.00 points, or 1.05 percent, to 1,353.22. The Nasdaq Composite Index gained 38.64 points, or 1.36 percent, to 2, 872.66.
