U.S. stocks rally amid economic data

NEW YORK, Jan. 26 (Xinhua) -- U.S. stocks advanced on Thursday, lifted by a slew of better-than-anticipated economic data.

The Dow Jones Industrial Average rose 205.57 points, or 0.61 percent, to 33,949.41. The S&P 500 added 44.21 points, or 1.10 percent, to 4,060.43. The Nasdaq Composite Index increased 199.06 points, or 1.76 percent, to 11,512.41.

Ten of the 11 primary S&P 500 sectors ended in green, with energy and consumer discretionary up 3.32 percent and 2.03 percent, respectively, outpacing the rest. Consumer staples dipped 0.28 percent, the worst-performing group.

Tesla shares popped nearly 11 percent after the electric vehicle maker reported fourth-quarter earnings that beat estimates.

On the economic front, the U.S. Commerce Department reported Thursday that U.S. gross domestic product increased at an annual rate of 2.9 percent in the fourth quarter of 2022, beating consensus.

U.S. initial jobless claims, a rough way to measure layoffs, decreased by 6,000 to 186,000 in the week ending Jan. 21, said the Labor Department. Economists polled by The Wall Street Journal had estimated new claims would total 205,000.

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