MARKET SNAPSHOT: U.S. Stocks Rally As Investors Bet On 'stay' Win In Brexit Vote

By Ellie Ismailidou and Sara Sjolin, MarketWatch

Pound touches 2016 high as the Brits head to vote

U.S. stocks rallied on Thursday on growing expectations that the U.K. will vote to remain in the European Union in the closely watched Brexit referendum.

A fall in U.S. jobless claims (http://www.marketwatch.com/story/jobless-claims-tumble-to-8-week-low-of-259000-as-labor-market-stays-strong-2016-06-23)to an eight-week low, indicating strength in the labor market, also boosted sentiment.

The S&P 500 index rose 16 points, or 0.8%, regaining the psychologically important 2,100 level, with all 10 of its sectors in positive territory. Financial and materials stocks were leading the gains, up 1.5% and 1.1% respectively.

The Dow Jones Industrial Average jumped 154 points, or about 0.9%, to 17,933. Financial stocks were the best performers on the blue-chip gauge, led by Goldman Sachs Group Inc. Inc.(GS) up 2.1%.

The Nasdaq Composite Index climbed 30 points, or 0.6%, to 4,864.

The strong gains mark a comeback after all three benchmarks ended lower Wednesday (http://www.marketwatch.com/story/us-stock-futures-in-holding-pattern-with-one-day-to-go-before-brexit-vote-2016-06-22)following the release of a Brexit poll that gave the "leave" camp a narrow lead.

But a pair of polls released after the U.S. market's closed, as well as an Ipsos Mori phone poll released Thursday morning showed support for "remain" (http://www.marketwatch.com/story/ipsos-mori-brexit-poll-puts-remain-4-points-ahead-2016-06-23) slightly ahead. A Populus online survey also put the "stay" camp ahead at 55%.

Among stock movers, Macy's Inc. (M) gained 3.8% after announcing that Jeffrey Gennette will succeed Terry Lundgren as chief executive officer in the first quarter of 2017.

(END) Dow Jones Newswires

June 23, 2016 09:52 ET (13:52 GMT)

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