U.S. stock benchmarks headed higher on Thursday, as investors attempted to digest a series of economic reports, including a fourth-quarter first estimate of domestic gross domestic product that came in better than expected.
Wall Street, however, continues to parse the potential impact of a Federal Reserve that signaled at the conclusion of its two-day policy meeting on Wednesday that it was intent on lifting benchmark rates several times starting in March to combat inflationary pressures.
The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.56% rose 327 points, or 1%, to 34,480.
The S&P 500 index /zigman2/quotes/210599714/realtime SPX -1.46% climbed 1%, or 45 points, to reach 4,394.
The Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP -2.67% advanced 1%, or 135 points, to around 13,672.