The Nasdaq extended gains on Thursday, rising more than 1 percent, helped by upbeat economic data.

The Dow Jones industrial average <.DJI> soared 162.95 points, or 1.30 percent, at 12,734.86. The Standard & Poor's 500 Index <.SPX> was up 19.00 points, or 1.43 percent, at 1,344.84. The Nasdaq Composite Index <.IXIC> advanced 33.12 points, or 1.18 percent, at 2,847.35.

(Reporting by Caroline Valetkevitch)