GLOBAL MARKETS-Stocks rise, US$ slips

On Thursday, MSCI's benchmark for global equity markets rose 0.31% to 654.5, while the Dow Jones Industrial Average rose 0.99%, the S&P 500 gained 0.98% and the Nasdaq Composite added 0.5%. Stocks in Europe closed little changed

NEW YORK: The dollar retreated and Wall Street rallied on Thursday as investors looked past weak U.S. GDP and jobless claims data to hopes of a rosier economy ahead and welcomed restrictions on this week's social media-driven trading frenzy.

Tech heavyweights Microsoft Corp, Amazon.com and Alphabet Inc were among the biggest boosts to the S&P 500 a day after the three major U.S. indexes suffered their biggest daily percentage drop in three months.