Updated from 3:52 p.m. EDT

Financials and oil futures and stocks helped the major indices add to the week's gains Thursday, as not-so-great retail data was offset by news from other sectors and in-line jobless claims.


Dow Jones Industrial Average

gained 74.88 points, or 0.9%, to 8750.16, while the

S&P 500

moved up 10.70 points, or 1.1%, to 942.46. The


tacked on 24.10 points, or 1.3%, to 1850.02.


Securities and Exchange Commission

, in its investigation in the wake of the housing and financial crises, has formerly charged Angelo Mozilo, former CEO of Countrywide Financial, with civil fraud and insider trading.

Prior to that late-afternoon development, investors had plenty of news and data to peruse, starting with jobless claims. The Department of Labor said weekly initial jobless claims were 621,000 last week, compared to a revised 625,000 the week prior. Expectations were for 620,000 claims. Investors are awaiting unemployment data for the month of May due to be released by the government Friday.

Consumer discretionary and health care stocks were weaker throughout the day, but other sectors picked up where they left off after a midweek drawback. Industrials and financials led the Dow, with


(AA) - Get Alcoa Corp. Report



(CAT) - Get Caterpillar Inc. Report



(BA) - Get Boeing Company Report


Bank of America

(BAC) - Get Bank of America Corp Report


JPMorgan Chase

(JPM) - Get JPMorgan Chase & Co. (JPM) Report

, and


(C) - Get Citigroup Inc. Report

showing the biggest advances.

Integrated oil stocks were also on the rebound after a midweek pullback as crude oil was again on the rise, adding $2.69 to $68.81 a barrel.

Chesapeake Energy

(CHK) - Get Chesapeake Energy Corporation Report

tacked on 3%;


(PTR) - Get PetroChina Company Limited Sponsored ADR Report

advanced 3.5%; and


(CVX) - Get Chevron Corporation Report

rose 1.6%.

At the same time, longer-dated Treasury yields rose sharply; the 10-year declined 1-9/32, yielding 3.70%, and the 30-year fell 2-2/32, to yield 4.58%. The dollar was weaker vs. the yen, but stronger against the pound and euro.

"I do feel that the markets appear to be on far more stable ground today than they were two months ago," says Kenneth Roberts, a principal for Harbor Lights Financial. "Investor sentiment, consumer sentiment, and overall confidence has gone up dramatically with the recent spike, and I think the stimulus is starting to prove to be working and beneficial."

Although, notes Roberts, the recovery is shaping up to look more like a "step-up" formation than a "V" formation. Thus the markets may be relatively flat for a while before taking the next step up, he says.

The markets weathered some

negative surprises

from the retail sector early Thursday.

Warehouse retailer


(COST) - Get Costco Wholesale Corporation Report


comparable-store sales

in May fell 7%, a bit more than expectations for a 6.4% drop.


(TGT) - Get Target Corporation Report

said its same-store sales fell 6.1%, while analysts had predicted only a 4.3% decline.

Hot Topic



TheStreet Recommends

Stage Stores

(SSI) - Get Stage Stores, Inc. Report

also saw sales fall more than expected.



, on the other hand, saw same-store sales rise 19% in May, well above Wall Street's view of 10.7%.


(WMT) - Get Walmart Inc. Report

will not report May sales, but did have something to say. The company is doing its part to help stymie jobless numbers. The retailer

plans to hire

about 22,000 people as it opens or expands 150 stores this year.

In other news,

United Airlines


plans to order up to

150 new airliners

and has asked Boeing and


to propose bids for the jets,

The Wall Street Journal


In the tech sector,


(INTC) - Get Intel Corporation (INTC) Report

said it will pick up

Wind River Systems



a transaction

worth $884 million, as it seeks a share of the wireless device market. Wind River Systems surged 44%, or $3.51, on the news.

Shares of network gearmaker


(CIEN) - Get Ciena Corporation Report

were resilient, rising 3.8%, after the

company reported

a greater than expected loss in the recent quarter.

Shares of

Valero Energy

(VLO) - Get Valero Energy Corporation Report

, which fell 18% Wednesday with a worse than anticipated outlook, were also catching a break. The company repriced its public offering of 40 million shares to $18, well below the initial estimate, but shares were up about 1.9% nonetheless.


Rio Tinto


shares were off by about 5%. The

Wall Street Journal

reported that the miner

might scrap

a proposed $19.5 billion investment by

Aluminum Corp. of China

in the company, while


reported that Chinalco

could walk away

from the deal.

Rio Tinto said it's

pursuing a range of options

for "for maximizing shareholder value and improving the group's capital structure," according to a separate



Stocks overseas were mixed. In Europe, London's FTSE 100 rose 0.1%, while Frankfurt's Dax ticked up 0.2%. In Asia, Japan's Nikkei and Hong Kong's Hang Seng gave up 0.8% and 0.4%, respectively.

In Europe, the Bank of England said it would hold benchmark interest rates steady.