NEW YORK, April 17 (Xinhua) -- U.S. stocks traded on an upbeat note Friday with the Dow rallying more than 500 points shortly after the opening.

Shortly after the opening, the Dow Jones Industrial Average jumped 540.85 points, or 2.3 percent, to 24,078.53. The S&P 500 was up 52.38 points, or 1.87 percent, to 2,851.93. The Nasdaq Composite Index increased 89.54 points, or 1.05 percent, to 8,621.90.

All the 11 primary S&P 500 sectors traded higher, with energy and financials both up more than 4 percent a few minutes after the opening, outpacing the rest groups.

U.S. stocks finished the prior session with modest gains after data showed more than 5 million Americans filed for unemployment benefits last week.

The number of initial jobless claims in the United States totaled 5.25 million in the week ending April 11, as the COVID-19 fallout continues to ripple through the workforce, following staggering figures of over 6 million in the previous two weeks, the U.S. Bureau of Labor Statistics reported on Thursday. 

(Photo: Agencies)