Stocks extended gains on Thursday, with major indexes up more than 1 percent, as investors held out hope the economic deterioration was receding and positive news boosted consumer shares.

The Dow Jones industrial average <.DJI> gained 107.47 points, or 1.29 percent, to 8,407.33. The Standard & Poor's 500 Index <.SPX> rose 12.46 points, or 1.38 percent, to 913.40. The Nasdaq Composite Index <.IXIC> added 28.08 points, or 1.57 percent, to 1,820.42.

(Editing by Jeffrey Benkoe)