US equities (^GSPC, ^DJI, ^IXIC) bounced back in Thursday's trading session after the latest data on initial jobless claims came in cooler than expected. The print brought much-needed relief to investors whose concerns of a recession exploded after the July jobs report showed the labor market slowed faster than anticipated. The S&P 500 jumped 2.3% on Thursday, its biggest increase since November 2022.

Yahoo Finance markets reporter Josh Schafer breaks down his key takeaways from the trading day.

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This post was written by Melanie Riehl