S&P 500 exits bear market as stocks close higher

U.S. stocks rose Thursday, with the S&P 500 closing above the threshold that marks an exit from a bear market. Stocks were buoyed following a rise in weekly jobless claims that reinforced expectations the Fed will hold rates steady next week, analysts said. The S&P 500
SPX,
+0.62%
rose around 26 points, or 0.6%, to close just shy of 4,294, according to preliminary figures. A close above 4,292.44 meets the criteria for exiting a bear market, marking a 20% rise from the benchmark’s October closing low. The Dow Jones Industrial Average
DJIA,
+0.50%
rose around 169 points, or 0.5%, while the Nasdaq Composite
COMP,
+1.02%
jumped 1%.