NEW YORK, New York -  U.S. stock markets closed sharply higher on Thursday, with the Nasdaq Composite leading the charge as investor optimism around artificial intelligence and technology earnings continued to fuel a broad-based rally.

The tech-heavy NASDAQ Composite (^IXIC) surged 209.97 points, or 0.98 percent, to close at a record 21,707.69. The momentum spread across the market, lifting other major indices significantly.

The benchmark S&P 500 (^GSPC) also posted impressive gains, climbing 53.82 points, or 0.83 percent, to finish the trading day at 6,502.08. The broad-based advance saw strength in multiple sectors beyond technology.

The Dow Jones Industrial Average (^DJI), which tracks 30 major blue-chip companies, joined the rally, adding 350.06 points. This gain of 0.77 percent brought the index to 45,621.29.

The bullish sentiment was attributed to a combination of solid corporate earnings reports and renewed confidence that the economic landscape remains conducive to growth. "The market is breathing a sigh of relief," said a lead portfolio manager. "The narrative is shifting from fears of overheating to confidence in a sustainable expansion, and tech is at the forefront of that story."

Trading volumes were robust, reflecting the strong conviction behind the day's move. With another positive session, the major U.S. indices are on track for a winning week, as investors now turn their focus toFriday's jobs report for further direction

U.S. Dollar Rises Against Commodity Currencies Thursday as Risk Appetite Wanes

The US dollar posted broad gains on Thursday, strengthening notably against the commodity-linked Australian and New Zealand dollars as investors shifted towards the safe-haven currency amid mixed global economic signals.

The dollar's index, which measures the greenback against a basket of major peers, edged higher as risk sentiment softened. The most significant moves were seen in the Pacific, where the Australian dollar (AUDUSD) fell sharply by 0.40 percent to trade at $0.6516. The New Zealand dollar (NZDUSD) experienced an even steeper decline, dropping 0.56 percent to $0.5845.

"The commodity blocs are under pressure today as concerns over global demand, particularly from China, are weighing on sentiment," said a senior currency strategist in London. "This is naturally driving flows towards the dollar."

The greenback also made gains against its Canadian counterpart. The USDCAD pair rose 0.23 percent, with one US dollar buying C$1.3824, as falling oil prices offset the loonie's typical resilience.

Against the Japanese yen, the dollar continued its recent strength. The USDJPY pair advanced 0.30 percent to reach ¥148.46, hovering near levels that have previously drawn concern from Japanese policymakers about its rapid depreciation.

The dollar was also firmer against the Swiss franc, with USDCHF climbing 0.17 percent to 0.8055.

The greenback edged higher against UK and European majors, though the moves were modest. The euro (EURUSD) was down a marginal 0.08 percent at $1.1651, while the British pound (GBPUSD) also dipped 0.07 percent to $1.3434, as both currencies treaded water ahead of key economic data releases scheduled for Friday.

Analysts suggest the market is in a holding pattern, parsing through recent central bank commentary and economic indicators for clues on the future path of interest rates, which continues to be the primary driver of currency valuations.

Global Markets Mixed Thursday as FTSE and DAX Climb, Asia Struggles

Global equity markets delivered a mixed performance on Thursday, with Canadian, UK and European indices largely finishing in positive territory while several major Asian markets closed lower amid renewed regional concerns.

Canada's main stock index finished in positive territory. The S&P/TSX Composite (^GSPTSE) advanced 164.53 points, or 0.57 percent, closing at 28,915.89, supported by gains in the materials and financial sectors.

In London, the FTSE 100 (^FTSE) advanced, closing at 9,216.87, a gain of 38.88 points or 0.42 percent. The rally was fueled by strength in the mining and energy sectors as commodity prices held firm.

Continental European markets also saw broad-based gains. Germany's DAX (^GDAXI) was a standout performer, climbing 175.53 points, or 0.74 percent, to settle at 23,770.33.

The pan-European EURO STOXX 50 (^STOXX50E) index rose 21.70 points, adding 0.41 percent to close at 5,346.71.

In France the CAC 40 (^FCHI) was a notable exception in the region, dipping 20.79 points, or 0.27 percent, to finish at 7,698.92.

Smaller indices like the BEL 20 (^BFX) in Brussels and the Euronext 100 (^N100) eked out modest gains of 0.15 percent and 0.25 percent, respectively.

The picture was decidedly different in Asia and Pacific trading.

Hong Kong's Hang Seng Index (^HSI) led the declines, dropping 284.92 points, or 1.12 percent, to 25,058.51.

In Mainland China the Shanghai Composite (000001.SS) fell even further, shedding 1.25 percent to close at 3,765.88.

Japan's Nikkei 225 (^N225) was a dramatic outlier, surging 641.38 points, or 1.53 percent, to a high of 42,580.27, buoyed by a weakening yen that benefits the country's major exporters.

Australia's S&P/ASX 200 (^AXJO) also had a strong session, jumping 1.00 percent.

Other markets in the region were mixed. South Korea's KOSPI (^KS11) and Taiwan's TWII both gained over half a percent, while in Indonesia' the IDX Composite (^JKSE) together with Malaysia's FTSE Malaysia KLCI (^KLSE) posted slight losses.

In other markets, India's BSE Sensex (^BSESN) edged up 0.19 percent, while Egypt's EGX 30 (^CASE30) mirrored the Hang Seng's decline, falling 1.12 percent.

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