The Dow Jones Industrial index gained 458.36 points, or 1.2%, to move into Thursday afternoon at 40,466.75.
The S&P 500 index picked up 76.61 points, or 1.4%, to 5,531.82.
The NASDAQ barreled ahead 361.9 points, or 2.1%, to 17,554.50.
After a 3% gain this week, the S&P 500 is now less than 3% below its record. The three major U.S. indexes are now trading above their Aug. 2 closing level, which was the session before the global stock market rout on Aug. 5 that was largely driven by investors’ concerns about an economic slowdown and an unwinding of a popular hedge fund currency trade.
Dow component Walmart added to the momentum, with a raised outlook and an earnings report that topped analyst estimates, sending shares up more than 6%. Elsewhere, Cisco Systems jumped more than 8% after announcing a fiscal fourth-quarter earnings and revenue beat and cuts to its global workforce.
Retails sales increased 1% in July, far surpassing an estimate from Dow Jones that forecast a 0.3% uptick. Also separately, weekly jobless claims fell for the week. The data served as a boon to investors and a broader market trying to mount a comeback from an August rout tied to concerns about a slowing economy that arose following July’s disappointing jobs report on August 2.
Prices for the 10-year Treasury withered, raising yields to 3.93% from Wednesday’s 3.82%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.37 at $78.35 U.S. a barrel.
Gold prices ballooned $15.40 to $2,495.10.