US benchmark equity indexes are on track to close higher on Thursday, after US weekly jobless claims jumped to the highest level since the week ended Feb. 22.

The Dow Jones Industrial Average gained 0.7% to 40,940.86, while the Nasdaq Composite increased 2.2% to 17,829.99. The S&P 500 was up 1.2% to 5,637.26. Technology and communication sectors were the top gainers, while healthcare saw the steepest decline.

Carrier Global (CARR) shares were up nearly 12%, the top performer on the S&P 500. The company reported first quarter adjusted earnings and sales, beating analysts' estimates and raised its 2025 guidance.

Microsoft (MSFT) shares jumped 8.8%, the top gainer on the Dow and among the best on the S&P 500. The tech giant posted stronger-than-expected fiscal third-quarter results late Wednesday as demand for its cloud offerings grew.

Becton, Dickinson (BDX) shares fell 16%, the worst performer on the S&P 500. The company's fiscal second quarter revenue fell short of Wall Street's estimates, and it lowered fiscal year 2025 adjusted EPS guidance.

The 10-year US Treasury yield gained 7.1 basis points to 4.2%, while the two-year rate was up 9.8 basis points to 3.7%.

June West Texas Intermediate crude oil was up 1.6% to $59.15 a barrel.