US stocks rose on Thursday, with the Dow and the S&P 500 climbing to fresh all-time intraday highs after data showed jobless claims dropped more than expected. Nevertheless, technology stocks were the day's underperformers, with tech bluechips such as Microsoft and Hewlett-Packard sharply lower after an industry report that showed shipments of personal computers had fallen significantly in the first quarter.
Microsoft was also hit after Goldman Sachs cut its rating on the stock to "sell" from "neutral." Among the bluechips, three of the Dow's five biggest gainers - Pfizer Inc, Boeing Co and Home Depot Inc - hit new 52-week highs. The Dow Jones industrial average was up 77.63 points, or 0.52 percent, at 14,879.87 - off an all-time intraday high of 14,887.51. The Standard & Poor's 500 Index was up 7.98 points, or 0.50 percent, at 1,595.71. The Nasdaq Composite Index was up 4.75 points, or 0.14 percent, at 3,302.00.
The Dow had reached a record intraday high at around 11:21 am in Thursday's session, and extended that to a fresh record by early afternoon. The S&P 500 quickly followed the Dow's lead in late morning trading, climbing to an all-time intraday high of 1,597.35 at around 11:29 am. On Wednesday, both the Dow and the S&P 500 rose more than 1 percent to close at new record highs after three straight days of gains.