US stocks edged higher Thursday as markets digested economic data and bank stress tests by the Federal Reserve.
The S&P 500 has gained about 6.5% in the quarter, and is on track for its third consecutive quarter of gains. In June alone, the index is up 4.7%.
Amid swirling recession concerns, a new estimate for first-quarter GDP came in higher than expected at 2%, above the 1.4% predicted by economists. Jobless claims, meanwhile, fell to the lowest mark since May, hitting 239,000, versus the expected 270,000. The signs point to enduring economic resilience despite talk of an imminent slowdown of the US economy.
