NEW YORK, Jan. 22 (Xinhua) -- U.S. equities continued their upward trajectory on Thursday, building on the previous session's momentum as a reduction in geopolitical risk and stable inflation data bolstered investor confidence.

The Dow Jones Industrial Average rose 0.63 percent to 49,384.01. The S&P 500 added 0.55 percent to 6,913.35. The Nasdaq Composite Index increased by 0.91 percent to 23,436.02.

Seven of the 11 primary S&P 500 sectors ended higher, with communication services and consumer discretionary leading the gainers by going up 1.57 percent and 1.22 percent, respectively. Real estate and utilities led the laggards by losing 1.1 percent and 0.73 percent, respectively.

Market sentiment remained positive following U.S. President Donald Trump's midweek assurance that the United States "won't use force" in its pursuit of strategic interests in Greenland. The statement effectively removed a significant tailwind of volatility that had previously rattled global markets.

On the macroeconomic front, the U.S. Bureau of Economic Analysis (BEA) announced on Thursday that the final reading of third-quarter GDP grew at an annualized rate of 4.4 percent, marking a slight upward revision from the previous estimate of 4.3 percent. It represents an acceleration from the 3.8 percent growth in the second quarter of 2025.

Meanwhile, the BEA released the delayed personal consumption expenditures (PCE) price index for both October and November 2025, the Federal Reserve's preferred inflation metric. The data showed a monthly increase of 0.2 percent and a year-over-year rise of 2.8 percent in November, both aligned precisely with economists' expectations.

Despite its importance, analysts suggested the PCE report may carry less influence than usual during the Fed's upcoming policy meeting on Jan. 27-28, due to reporting delays caused by the recent government shutdown, which has left officials with a less current snapshot of December's economic activity.

In the bond market, the yield on the benchmark 10-year U.S. Treasury note initially held steady at 4.27 percent before retreating to approximately 4.25 percent, matching Wednesday's close. This stabilization follows a peak of 4.3 percent reached earlier in the week, which represented the highest closing level for the yield since August. ■