By Caroline Valetkevitch
NEW YORK (Reuters) – US equity markets rallied on Thursday, with shares in companies like Morgan Stanley and UnitedHealth rising after strong quarterly results, as labor market and inflation data eased concerns about the outlook for higher interest rates.
The tech sector gave the S&P 500 the biggest boost, with Microsoft Corp and Apple Inc shares up.
Citigroup, Bank of America Corp and Morgan Stanley gained after beating quarterly earnings estimates.
According to preliminary data, the S&P 500 gained 1.70% to 4,438.15 points, while the Nasdaq Composite rose 1.71% to 14,824.90 points. The Dow Jones index rose 1.55% to 34,910.02 points.
Gains were broad, with all sectors of the S&P 500 in blue.
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