Stocks rose in choppy trading on Thursday as uncertainty over details of a deal European leaders struck to aid debt-ridden Greece was offset by an improving U.S. labor market picture.
U.S. economic data helped boost shares as first-time applications for jobless insurance fell more than expected in the latest week, a signal the labor market continues to mend.
European leaders sealed a deal to provide financial aid to Greece, but details on the package were not expected until early next week.
Concern over the debt troubles in Greece has dampened confidence of late, and equity markets have been sensitive to statements and reports of potential aid.
There was an announcement that yes, the EU is going to do something (to help Greece), but that 'something' hasn't been detailed, said Kim Caughey, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh, Pennsylvania.
We're being given pieces of information, so the market runs one way and then another, overreacting.
The Dow Jones industrial average <.DJI> gained 47.31 points, or 0.47 percent, to 10,085.69. The Standard & Poor's 500 Index <.SPX> rose 3.72 points, or 0.35 percent, to 1,071.85. The Nasdaq Composite Index <.IXIC> added 12.47 points, or 0.58 percent, to 2,160.34.
Activision Blizzard Inc
Gainers also included 3M Co
The smaller number of people filing for initial jobless benefits fell sharply last week, reversing a recent spike in benefit requests that had heightened worries about labor market weakness.
(Editing by Padraic Cassidy)