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NEW YORK Preston Smith Redskins Jersey , Jan. 8 (Xinhua) -- U.S. stocks rose sharply Thursday,extending the strong rebound from previous session, as improvementsin the labor market and a patient Federal Reserve helped WallStreet recover from sharp selloffs at the beginning of theyear.

The Dow Jones Industrial Average surged 323.35 points, or 1.84percent, to 17,907.87. The S&P 500 advanced 36.24 points Brandon Scherff Redskins Jersey , or1.79 percent, to 2,062.14. The Nasdaq Composite Index jumped 85.72points, or 1.84 percent, to 4,736.19.

On the economic front Montae Nicholson Redskins Jersey , the number of Americans who initiallyapplied for jobless benefits in the week ending Jan. 3 slipped 4,000 to a seasonally adjusted 294,000, the U.S. Labor Departmentsaid Thursday.

The fresh figure came a day after payroll processor ADP's upbeatjobs report, which showed U.S. private sector employment added241,000 new jobs in December Samaje Perine Redskins Jersey , surpassing analysts'expectations.

Moreover, investors embraced the minutes of the Federal Reserve's December policy meeting released Wednesday, which showed mostparticipants believed "patience" in beginning to normalize thestance of monetary policy indicated that the U.S. central bank wasunlikely to start the normalization process for at least the nextcouple of meetings.

Dovish remarks from Chicago Federal Reserve Bank PresidentCharles Evans late Wednesday added optimism to the market. Evanssaid "I don't think we should be in a hurry to increase interestrates."

The market was also encouraged by European Central BankPresident Mario Draghi, who said Thursday that the central bank wasready to start full-blown quantitative easing.

Overseas, European stocks surged to close almost 3 percenthigher on Draghi's comments. In Asia, Japan's benchmark Nikkeiindex gained 1.67 percent while Chinese Shanghai Composite indextumbled 2.39 percent on profit-taking.

In corporate news Fabian Moreau Redskins Jersey , shares of Apple, the heavyweight of Nasdaq,spiked 3.84 percent to 111.89 dollars apiece after the companyannounced that its app billing rose 50 percent in 2014.

On Wednesday, U.S. stocks rose sharply, with the S&P 500snapping a five-day losing streak, as U.S. crude prices steadiedsomewhat and positive economic data underscored the strength in theU.S. economy. Enditem
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