The Dow Jones Industrial Average gained on Thursday as big bank names rose after passing the Federal Reserve's annual stress test and a revised upward GDP print alleviated some recession fears.
The 30-stock index shot higher 215.84 points to move into noon hour EDT Thursday at 34,065.50, lifted by major bank names.
The S&P 500 gained 13.88 points to 4,390.74.
The NASDAQ index poked ahead 6.56 points to 13,598.71.
JPMorgan Chase, Bank of America and Wells Fargo rose more than 2% each. Other financial stocks hit during this year's banking crisis also gained, including Charles Schwab, Western Alliance and Zions Bancorporation.
A bout of positive economic data signaled economic resilience despite looming recession fears. That included a large upward revision in first-quarter GDP and drop in weekly jobless claims to the lowest level since May.
Just two trading days remain in what's been a banner first half. The S&P 500 is up 14% this year and on pace for its best monthly performance since January. The tech-heavy NASDAQ has climbed nearly 30% — heading toward its best first half since 1983 — as rising optimism around artificial intelligence pushed up a slew of tech names and chipmakers. The blue-chip Dow is the relative underperformer, up just 2% this year.
Prices for the 10-year Treasury went earthward, propelling yields higher to 3.85% from Wednesday's 3.71%. Treasury prices and yields move in opposite directions.
Oil prices slid 34 cents to $69.22 U.S. a barrel.
Gold prices faltered $3.80 to $1,918.40 U.S. an ounce.
Markets Pop as Banks Pass Stress Tests