Subtitles section Play video Print subtitles subsiding inflation worry sparked a robust rebound in mega cap tech stocks Thursday that propelled the NASDAQ sharply higher and drove the Dow and S and P 500 to record highs. Investors also got more encouraging signs about the U S economic recovery. Americans filed fewer weekly jobless claims than expected, and President Joe Biden signed his massive stimulus bill into law. The NASDAQ was the outperformer, rising 2.5% the S and P 500 added 1% and the Dow rose for the fourth straight session, adding more than a half percent. While Tech was in the vanguard, the rotation into value stocks continued, led by gains in material and industrial stocks. National Securities Chief Market strategist Art Hogan This rotation into cyclicals into value has been happening for months, and today is a great example of Maybe it's got a touch too far. So, you know, I think Magic and Technology is playing a little Ketchup Coupons debuted with a bank jumping 41%. The South Korean e commerce company, backed by Softbank, raised around $4.6 billion in the year's biggest US IPO. Softbank shares also rose. Shares of two companies that foresee pent up demand gained ground. Bumble rose 11% after the dating. Apps. Quarterly revenue rose more than expected. It expects higher demand from people who had avoided dating in person due to the health crisis, and AMC Entertainment shares rose 4%. The cinema operator says the vaccine rollout and major movie releases will boost sales this year.