U.S. equity markets rallied after the government reported fewer first-time jobless claims than expected -- a signal the economic recovery may be strengthening.

U.S. equity markets rallied Thursday after government data showed fewer first-time jobless claims last week than expected, signaling that the country's economic recovery may be strengthening. The S&P 500 and the Nasdaq Composite climbed 0.26 percent and 0.66 percent, respectively, while the Dow Jones Industrial Average struggled to maintain gains, rising as much as 7.9 points, or 0.03 percent, before sliding into the red. The early growth placed the tech-heavy Nasdaq, which posted its best five-day start to the second half since 2003, on track for its 26th record-high close this year.

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