New York - US stocks posted gains for the third straight session on Thursday as worries continued to diminish about the economic hit to the United States from the British exit of the European Union.
Analysts said Wall Street investors feel increasing confidence the United States will not feel significant effects from Brexit, even as the resulting political uncertainty in Europe drags on growth in Britain and the European Union.
"It won't be the Brexit that will take the market down," said Charlie Bilello of Pension Partners.
The Dow Jones Industrial Average rose 1.3% to 17 929.99.
The broad-based S&P 500 climbed 1.4% to 2 098.86, while the tech-rich Nasdaq Composite Index advanced 1.3% to 4 842.67.
Major gainers in the Dow included Boeing, Caterpillar, General Electric and IBM, all of which won more than two percent.
Financial stocks were broadly higher after the Federal Reserve gave the green light to 31 of 33 banks to return capital to shareholders following stress tests. JPMorgan Chase rose 1.5%, Goldman Sachs 2.1% and Wells Fargo 0.8%.
Pay television network Starz rose 5.9% on news it agreed to be acquired by Hollywood studio Lionsgate for $4.4bn. Lionsgate fell 3.4%.
Hershey surged 16.8% as it rejected a preliminary takeover bid of about $23bn from food giant Mondelez. Mondelez rose 5.9%.
Visa and MasterCard fell 3.4% and 4.4%, respectively, on news that a US appeals court rejected a $5.7bn settlement over swipe fees, potentially opening the two credit card companies to more litigation with merchants.