Technology stocks climbed for the third straight day on Thursday, while blue chips logged their fifth consecutive session of gains, as investors' sentiment again improved, thanks to bullish earnings and the Federal Reserve's surprise interest rate cut on Wednesday.

The Nasdaq composite index jumped 102.57 points, or 4.93 per cent, to close at 2,182.01, while the Dow Jones industrial average added 77.75 points, or 0.73 percent, to 10,693.58. The Nasdaq is now up 543 points, or 33 per cent, from the low of 1,639 struck on April 4, the weakest finish since mid-October 1998. The five-day Dow rally has added about 680 points to the index, or 6.8 per cent.