U.S. Market
U.S. stocks gained for the third day in a row Thursday, as stocks climbed their way back from steep losses that followed the U.K.'s "Brexit" vote to leave the European Union.

Initial U.S. jobless claims rose by 10,000 to 268,000 in late June, the Labor Department said Thursday. Despite the increase, the figure is still low by historical standards.

U.S. consumer spending rose 0.4% last month after following a revised 1.1% increase in April.

The Chicago PMI rose to 56.8 in June on a big advance in the number of purchasing managers, indicating improving production and new orders.

The Dow was up 1.3%, while the S&P 500 gained 1.4%, and the Nasdaq added 1.3%.

Stocks on the Move
Shares of Hershey Co (HSY) soared more than 16% after The Wall Street Journal reported that Mondelez International Inc (MDLZ) had made a takeover bid for the candy company. Shares of Mondelez rose 5.9%. "We don't intend to change to our $48 and $103 fair value estimates for Mondelez and Hershey, respectively, because a deal is far from a certain at this point," said senior equity analyst Erin Lash. "We still believe the leading brands and entrenched retail relationships the firms maintain independently support our wide moat ratings."

Foreign Markets
European stocks made strong gains. The FTSE 100 was up 2.3%, the Paris CAC was up 1.0%, and Germany's DAX gained 0.7%.

Asian markets were mixed. The Shanghai Composite and the Nikkei 225 were about flat, while the Hang Seng rose 1.8%.