U.S. stocks rose on Thursday to extend their recent rally, even as a weak reading on the labor market underlined the headwinds facing the economy's recovery.
The S&P 500 index was on track for a third day of gains, after Wednesday's advance took it to its highest level since May. The rally has largely been driven by corporate earnings, and investors were cheered by IBM's move to raise its full-year profit forecast late on Wednesday.
The Dow Jones industrial average was up 31.37 points, or 0.24 percent, at 12,940.07. The Standard & Poor's 500 Index was up 3.71 points, or 0.27 percent, at 1,376.49. The Nasdaq Composite Index was up 20.09 points, or 0.68 percent, at 2,962.69.