Stocks were able to brush off interest rate hike concerns and a grim guidance warning from Microsoft (MSFT) on Thursday.

The Dow ultimately added 435 points, despite being down over 300 points at its sessions lows. Both the S&P 500 and Nasdaq joined the blue-chip index in snapping two-day losing streaks, with the latter sporting solid gains thanks to strength in the tech sector. Dismal jobs data still weighed, though, after the ADP report showed jobs being created at the slowest pace since April 2020 in May. Meanwhile, the Cboe Volatility Index (VIX) logged its lowest close since April 21. 

The Dow Jones Average (DJI - 33,248.28) added 435.1 points or 1.3% for the day. Boeing (BA) added 7.5%, leading the gainers. Amgen (AMGN), meanwhile, paced the laggards with a 2% drop.

The S&P 500 Index (SPX - 4,176.82) rose 75.6 points, or 1.8% for the day. Meanwhile, the Nasdaq Composite (IXIC - 12,316.90) gained 322.4 points or 2.7% for the session.

Lastly, the Cboe Market Volatility Index (VIX - 24.72) lost 1 point or 3.8%.

OIL MOVES HIGHER ON HIKED PRODUCTION, LOWER INVENTORIES

Oil prices settled higher on Thursday, after the Organization of the Petroleum Exporting Countries and their allies (OPEC+) hiked its production target by 648,000 barrels a day for July and August. Also boosting the commodity was a drop in U.S. crude inventories, which fell fell 5.1 million barrels last week. In turn, July-dated crude added $1.61 cents, or 1.4%, to close at $116.87 per barrel.

Gold prices were higher as well, settling at their best level in roughly one month as both the U.S. dollar and Treasury yields cooled.. August-dated gold added 1.2% to finish at $1,871.40 an ounce.