The U.S. government’s more comprehensive report on jobs arrives on Friday. It will include hiring by all non-farm employers, and economists expect it to show growth of 176,000 jobs in May.

The data gave yet more encouragement to investors, many of whom were already looking to buy.

“The market’s ahead of itself, but I’m not surprised that the market is ahead of itself,” said Linda Duessel, senior equity strategist at Federated Investors.

Duessel talks often around the country with financial advisers managing money for clients, and many tell her they see any pullback in stock prices as a quick opportunity to buy rather than as a source of concern. That hunger to buy means the S&P 500 has gained within just months what Duessel thought may take a year or so to achieve, given continued economic growth and few signs of a looming recession.

“What you have, it would appear, is an acceleration in earnings with a low inflationary environment, which is Goldilocks,” Duessel said.

The Dow Minute by Minute

Position of the Dow Jones industrial average at 1-minute intervals on Thursday.

President Trump’s announcement late in the trading day that the U.S. would withdraw from the worldwide agreement on climate change had little effect on markets.

Other reports on the U.S. economy were mixed on Thursday. Manufacturing growth picked up last month and was stronger than economists were expecting, but construction spending unexpectedly weakened in April. A separate report showed that the number of workers filing for unemployment claims rose last week, which could be an indication that layoffs are on the rise. The number remains low by historical standards.

The stock market’s gains were widespread, and all 11 sectors that make up the S&P 500 rose. Health care and financial stocks led the way. Producers of raw materials and companies that sell non-essentials to consumers were also particularly strong.

Discount retailer Dollar General jumped to one of the biggest gains in the S&P 500 after it reported stronger earnings for the latest quarter than analysts expected. Its shares climbed $4.80, or 6.5 percent, to $78.19.

Deere rose $2.24, or 1.8 percent, to $124.70 after it agreed to buy Wirtgen Group, a German maker of road-construction equipment for about 4.6 billion euros, or $5.2 billion, including debt.

On the other end was Hewlett Packard Enterprise, which fell to the largest loss in the S&P 500 after it reported quarterly results that disappointed investors. Its shares fell $1.29, or 6.9 percent, to $17.52.

The yield on the 10-year Treasury note held steady at 2.21 percent. A stronger job market gives the Federal Reserve more leeway to raise interest rates, and its next meeting on rate policy is in two weeks. The central bank has been gradually pulling rates off their record low following the Great Recession, and it has raised them twice since December.

Jobless Claims

Weekly number of people who have filed for unemployment benefits for the first time.

The dollar rose to 111.33 Japanese yen from 110.57 yen late Wednesday. The euro fell to $1.1214 from $1.1246, and the British pound dipped to $1.2876 from $1.2892.

Benchmark U.S. crude oil rose 4 cents to settle at $48.36 per barrel. Brent crude, used to price international oils, fell 13 cents to settle at $50.63 a barrel. Natural gas fell 6 cents to settle at $3.01 per 1,000 cubic feet, heating oil slipped 2 cents to $1.50 per gallon and wholesale gasoline was close to flat at $1.60 per gallon.

Gold fell $5.30 to settle at $1,270.10 per ounce, silver dropped 13 cents to $17.28 per ounce and copper added a penny to $2.59 per pound.

In overseas markets, France’s CAC-40 gained 0.7 percent, Germany’s DAX advanced 0.4 percent and London’s FTSE 100 added 0.3 percent. Tokyo’s Nikkei 225 advanced 1.1 percent, Hong Kong’s Hang Seng rose 0.6 percent, and South Korea’s Kospi shed 0.1 percent.

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