Dow34764.82+506.50(1.48%)Nasdaq15052.24+155.40(1.04%)SP 5004448.98+53.34(1.21%)10-yr Note -30/321.400NYSEAdv 2073 Dec 1121 Vol 796.0 mlnNasdaqAdv 3054 Dec 1188 Vol 4.1 bln Industry Watch Strong: Financials, Energy, Materials, IndustrialsWeak: Real Estate, Utilities Moving the Market -- Optimistic rally on Wall Street -- Growing comfortability with the macro landscape -- S&P 500 reclaimed 50-day moving average (4438) on a closing basis -- Treasury yield curve steepened Optimists rally for the marketsDow +506.50 at 34764.82, Nasdaq +155.40 at 15052.24, S&P +53.34 at 4448.98 [BRIEFING.COM] The S&P 500 rallied 1.2% on Thursday, as optimism permeated the market and buy-the-dip efforts blended in with a fear of missing out on further gains. The Dow Jones Industrial Average (+1.5%) and Russell 2000 (+1.8%) outperformed the benchmark index, while the Nasdaq Composite trailed with a 1.0% gain. The market appeared comfortable with the macro landscape, insofar as realizing that the Fed should still be accommodative when it starts to taper asset purchases; Evergrande's debt issues shouldn't materially impact global financial markets; and while jobless claims increased on a weekly basis, the four-week trend continued to decline. That could explain the underlying growth mindset, which was evident in the outperformance of the value/cyclical stocks, a steepened Treasury yield curve, a softer dollar (93.09, -0.38, -0.4%), higher oil prices ($73.33/BBL, +1.07, +1.5%), and weaker gold prices ($1749.90/OZT, -28.70, -1.6%). Nine of the 11 S&P 500 sectors finished in positive territory, led by the energy (+3.4%) and financials (+2.5%) sectors with noticeable gains. The utilities (-0.5%) and real estate (-0.5%) sectors, however, were clipped by higher interest rates. The 10-yr yield increased seven basis points to 1.41%, and the 2-yr yield increased two basis points to 0.26%. Growth stocks fared well despite the bump in yields. Other supportive factors included the S&P 500 rallying and closing above its 50-day moving average (4438) and upbeat guidance out of salesforce.com ($CRM 277.86, +18.69, +7.2%), Accenture ($ACN 343.00, +8.34, +2.5%), Darden Restaurants ($DRI 159.43, +9.11, +6.1%), and H.B. Fuller ($FUL 65.19, +4.76, +7.9%). The last 90 minutes of action did see a slight retracement from session highs, though, perhaps because buyers had gotten exhausted. Between Monday's low and today's session high, the S&P 500 was up 159 points, or 3.7%. The CBOE Volatility Index (18.63, -2.24, -10.7%) closed below 19.00 after flirting with 29.00 on Monday. Reviewing Thursday's economic data: Initial claims for the week ending September 18 increased by 16,000 to 351,000 (Briefing.com consensus 317,000) while continuing claims for the week ending September 11 increased by 131,000 to 2.845 million.Notwithstanding the jump in the latest claims figures, the key takeaway is that the trend is still tracking lower as the four-week moving average for both initial claims and continuing claims decreased from the prior week.The Conference Board's Leading Economic Index (LEI) increased 0.9% in August (Briefing.com consensus 0.6%) after increasing a downwardly revised 0.8% (from 0.9%) in July.The preliminary September Markit Manufacturing PMI decreased to 60.5 from the final reading of 61.1 in August. The preliminary Markit Services PMI decreased to 54.4 from the final reading of 55.1 in August. Looking ahead, investors will receive New Home Sales for August on Friday. S&P 500 +18.5% YTDNasdaq Composite +16.8% YTDDow Jones Industrial Average +13.6% YTDRussell 2000 +14.4% YTDSource: (Briefing.com) Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page. .