Indexes rose in midday trading after new economic data showed a bigger dip in new unemployment claims than expected.
The S&P 500 climbed 1.9% to 3,821.51 in midday trading.
The Dow Jones Industrial Average was up 1.7% to 30,829.65, while the Nasdaq increased 1.5% to 13,467.82.
Crude oil declined 0.9% to $52.35 a barrel.
Gold was down 0.4% to $1,840.90.
The yield on a 10-year Treasury increased 0.31% to 1.373%.
REAL ESTATE
Irvine-based Sunstone Hotel Investors Inc. (NYSE: SHO) rose 7.4% to $11.01 per share for a market cap of $2.4 billion. Shares of the hospitality real estate investment trust are up about 51% since November.
HEALTHCARE
NextGen Healthcare Inc. (Nasdaq: NXGN) fell 11% to $19.50 and a $1.3 billion market cap. The Irvine-based firm announced on Wednesday third-quarter earnings of 26 cents, topping consensus estimates of 23 cents. Shares of the software provider have quadrupled since last March.
