12:19 PM EDT, 05/09/2024 (MT Newswires) -- US benchmark stock indexes rose after midday on Thursday as jobless claims jumped to the highest since August.

The S&P 500 rose 0.3% to 5,202.5, the Dow Jones Industrial Average was up 0.4% to 39,226.8 and the Nasdaq Composite added 0.2% to 16,338.9. Except for technology, all sectors advanced. Real estate and energy were among the top gainers.

In economic news, US initial jobless claims rose to 231,000 in the week ended May 4 from an upwardly revised 209,000 in the previous week, compared with expectations for 212,000 in a survey of analysts compiled by Bloomberg. The four-week moving average rose to 215,000 from 210,250.

Gold rose 0.7% to $2,339.11 an ounce, and silver surged 2.6% to $28.33. The US Dollar index fell 0.2% to 105.32.

Gold prices rose as the dollar weakened after the jump in jobless claims on expectations the Federal Reserve will soon cut interest rates. The probability of the Federal Open Market Committee cutting interest rates by 25 basis points in September stood at 50% on Thursday versus 34% a month ago, according to the FedWatch Tool.

The US 10-year Treasury yield eased to about 4.49%. The two-year yield fell 2.1 basis points to 4.82%.

In company news, Equinix ( EQIX ) reported late Wednesday that Q1 adjusted funds from operations grew more than forecast. Shares jumped 11% intraday, the top performer on the S&P 500.

EPAM Systems ( EPAM ) shares sank 24%, the worst performer on the S&P 500, after the company reported lower Q1 adjusted earnings and revenue. The firm also lowered its full-year revenue outlook.

Airbnb ( ABNB ) shares slumped 7% intraday, among the worst performers on the Nasdaq and the S&P 500, after the vacation rental company late Wednesday offered a muted outlook for Q2, taking the shine off its consensus-beating Q1 results.

West Texas Intermediate crude oil rose 0.1% to $79.03 a barrel.