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US weekly jobless claims slip; Q2 GDP unrevised

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Accenture ( ACN ) gains after upbeat annual revenue forecast

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Miners jump after report of Chinese stimulus

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Dow, S&P 500, Nasdaq all higher

(Updates with closing details)

By Echo Wang

Sept 26 (Reuters) - Wall Street's main indexes ended

higher on Thursday, with the S&P 500 scoring a record high, as a

surge in Micron Technology ( MU ) shares and a solid U.S.

jobless claims report eased concerns about the labor market.

Shares of Micron Technology ( MU ) rose after the memory

chip maker projected first-quarter revenue above expectations,

highlighting strong demand for memory chips used in artificial

intelligence computing.

The broader Philadelphia SE Semiconductor index

increased as most chip stocks rallied.

A string of robust U.S. economic data eased concerns that

the Federal Reserve may be cutting rates aggressively to curb

any slowdown.

Weekly jobless claims fell more than anticipated, signaling

a steady labor market, while the final reading of gross domestic

product confirmed that the economy grew 3% in the second

quarter.

"It (the GDP number) just kind of reinforces that strong

economic growth backdrop that we have been seeing," said Mike

Dickson, head of research at Horizon Investments in Charlotte,

North Carolina.

According to preliminary data, the S&P 500

gained 23.34 points, or 0.41%, to end at 5,745.60 points,

while the Nasdaq Composite gained 104.92 points, or

0.58%, to 18,187.12. The Dow Jones Industrial Average

rose 255.23 points, or 0.61%, to 42,169.98.

Metal prices got a boost after China pledged to deploy

"necessary fiscal spending." Copper miners such as

Freeport-McMoRan ( FCX ) gained, while lithium miners including

Albemarle and Arcadium advanced.

"The story driving the market absolutely has to do with the

Chinese stimulus and the announcement of the support that the

government's willing to provide to help just boost consumer

health there (and) reduce real estate pressures," Dickson added.

However, energy stocks slipped, tracking crude

prices that slid on expectations of greater supply by the

Organization of the Petroleum Exporting Countries.

The Russell 2000 index tracking small caps

outperformed the broader market.

The benchmark S&P 500 and blue-chip Dow have

hit multiple record highs this year, while the tech-heavy Nasdaq

is about 2% shy of its own milestone. Market rallies

have been driven by optimism surrounding AI and expectations of

lower interest rates.

Late on Wednesday, Fed Governor Adriana Kugler said she

"strongly supported" the central bank's decision to kick off

monetary policy easing last week.

Investors have been swaying between a 25- and 50-basis point

cut since the Fed commenced its easing cycle, with bets favoring

a bigger cut now, up from 38.8% a week ago, the CME Group's

FedWatch Tool showed.

U.S.-listed Chinese firms such as Li Auto ( LI ), PDD

Holdings ( PDD ) and Alibaba gained.

Shares of Wells Fargo ( WFC ) rose after a report showed the

banking giant had sent the Fed a review for lifting asset cap

restrictions.

Southwest Airlines ( LUV ) gained after the carrier raised

its third-quarter revenue forecast, while Accenture ( ACN ) rose

after the IT services provider forecast annual revenue above

estimates.