stocks on thursday continued to pare losses from this weeks selloff as investors rallied around central bank stimulus measures following the federal reserves decision to keep its pandemicera policy unchanged for now with the peoples bank of china announcing its biggest investment in the chinese economy since january to provide relief amid the turmoil surrounding indebted property developer evergrande the dow jones industrial average jumped 521 points or 15 to 34780 by 11 am edt with every stock in the index rising at least 05 as salesforce american express and jpmorgan climbed between 2 and 4 each meanwhile the sp 500 jumped 14 and the techheavy nasdaq climbed 11 similarly paring losses from earlier this week heading up the sps gains shares of darden restaurants soared 9 after the olive garden parent reported betterthanexpected earnings of 253 million driven by a nearly 50 increase in restaurant sales offering some respite to investors concerned about lagging summer growth due to the delta variant of covid19 us stock futures started climbing early thursday after chinas central bank said it would inject about 17 billion 110 billion yuan into the nations economy to help prevent ailing real estate giant evergrande the nations most indebted property developer from defaulting on its debt this month—a possibility that sparked a global selloff on monday the relief rally continues market analyst adam crisafulli founder of vital knowledge media wrote in a wednesday email referring to emboldened sentiment among investors after the federal reserve on wednesday decided to keep its monetary stimulus policy in tact for now and said a gradual reduction wouldnt start until november at the earliest however in another sign the economy may be too turbulent to ease support just yet new jobless claims unexpectedly rose for a second week in a row this month according to labor department data released thursday with another 351000 americans filing firsttime jobless claims in the week ending september 18 it’s now clear that chinese officials won’t allow a disorderly default and that’s really all global markets care about money manager tom essaye president of sevens report research wrote in a thursday note adding the feds wednesday announcement helped ease concerns the central bank would quickly taper or reduce its 120 billion monthly asset purchases in a policy meeting on wednesday fed chair jerome powell acknowledged inflation has risen beyond expectations and said broader economic progress particularly in employment may “soon” warrant a change in policy but he doubled down on the feds asset purchases saying they “help foster smooth market functioning and accommodative financial conditions” the stock market started to recover from its pandemicinduced crash last year on the day powell pledged to use the central bank’s “full range of tools to support the us economy” until “substantial further progress” is made toward a full economic recovery but all eyes are now on when the stimulus may end on wednesday powell said the fed may wind down asset purchases in full by the middle of next year suggesting a gradual reduction of about 15 billion per month—an amount essaye says shouldnt scare off investors in the days since evergrandes debt woes triggered broad stockmarket declines fears have largely abated that the companys collapse could cause systemic turmoil however essaye and crisafulli both warn the troubles are not yet over evergrande announced thursday it wouldnt miss an interest payment this week but another 475 million payment is due next week and the company still has about 305 billion in debt outstanding new unemployment claims unexpectedly rise again as fed cautions job market recovery may take a longer time forbes dow plunges 600 points to lowest level in two months as experts fear great recessionstyle collapse with evergrande forbes