U.S. stock indexes extended the gains in the final hour of trade Thursday as a moderation in wholesale inflation and a jump in weekly jobless claims support the idea that the economy is gradually weakening, while the Federal Reserve may be approaching the end of its tightening cycle. The S&P 500 advanced 1.4% and headed for its best close since February 7, according to Dow Jones Market Data. The Dow Jones Industrial Average rose nearly 400 points, or 1.2%, to 34,046. The Nasdaq Composite jumped 2.1%, led by gains in the communication services and consumer discretionary sectors, which rallied 2.3% each. Data showed…
