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U.S. stocks rose to record levels on Thursday as investors shrugged off economic data pointing slower-than-expected growth.

The Dow Jones Industrial Average gained 153.60 points, or 0.4%, to 35,084.53, while the S&P 500 climbed 0.4% to 4,419.15, both hitting their intraday records during the session. The tech-heavy Nasdaq Composite underperformed with a 0.1% gain to end at 14,778.26 amid a drop in Facebook and PayPal shares.

U.S. second-quarter gross domestic product accelerated 6.5% on an annualized basis, considerably less than the 8.4% Dow Jones estimate.

Meanwhile, a separate data point showed that 400,000 people filed initial claims for unemployment benefits for the week ended July 24. That level is nearly double the pre-pandemic norm and above a Dow Jones estimate of 385,000.

Many investors were relieved that the Federal Reserve signaled no imminent plans for dialing back asset purchases. Fed Chairman Jerome Powell cautioned that although the economy is making progress toward its goals, it has a ways to go before the central bank would actually adjust its easy policies.