Wall Street rallies, and Dow jumps more than 500 after an encouraging update on U.S. unemployment

U.S. stocks are jumping toward their best day since February following a better-than-expected report on unemployment. The S&P 500 rose 1.9% in midday trading Thursday, a day after a big early gain evaporated and flipped into a loss. The Dow Jones Industrial Average added 563 points, and the Nasdaq composite gained 2.2%. Treasury yields also climbed in the bond market, a signal that investors are feeling less worried about the economy, after a report showed fewer workers applied for unemployment benefits last week. Eli Lilly helped lead the market after delivering better profit for the spring than expected, while Big Tech stocks rebounded.