Dow notches 5th day of gains | Dollar Tree shares jump | First-quarter GDP fell 1.5%

The three major indexes climbed on Thursday, and all are on track for a positive week.

VIEW IN BROWSER | SUBSCRIBE THU, MAY 26, 2022 EVENING BRIEF AS OF THU, MAY 26, 2022 • 05:04 ET DJIA 32637.19 +1.61% +516.91 S&P 500 4057.84 +1.99% +79.11 NASDAQ 11740.65 +2.68% +305.91 Most Active DOW NAME LAST CHG %CHG AAPL 143.78 +3.26 +2.32% INTC 43.48 +1.28 +3.03% CSCO 44.99 +0.99 +2.25% S&P 500 NAME LAST CHG %CHG AMD 98.75 +6.10 +6.58% NVDA 178.51 +8.76 +5.16% AAPL 143.78 +3.26 +2.32% NASDAQ NAME LAST CHG %CHG AMD 98.75 +6.10 +6.58% NVDA 178.51 +8.76 +5.16% AAPL 143.78 +3.26 +2.32% EDITOR'S NOTE The market was in rally mode Thursday as stocks extended their gains for another consecutive day in an attempt to snap long weekly losing streaks.   All of the major averages ended the day higher, with the Dow rising for a fifth straight day and on track to snap its eight-week losing streak. The S&P 500 jumped to reclaim the 4,000 level at the close for the first time since May 17.   Meanwhile, the Nasdaq Composite started the trading day from behind and charged ahead of the other two major indexes. Tech-led losses have made the index the laggard in previous sessions. The S&P and Nasdaq are both riding seven-week losing streaks. Retail earnings continued to drive the market action on Thursday, starting with strong quarterly releases by Macy's and Williams-Sonoma.   Discount retailer Dollar Tree followed and was a notable gainer in the S&P 500 and Nasdaq with a 21.9% jump. Dollar General was right behind it, showing investors there is strength beyond just the high-end consumers.   Tech stocks were big movers, too. Chipmaker Broadcom announced plans to acquire VMWare for $61 billion in cash and stock, making it one of the biggest tech deals of all time when completed. Twitter shares rose as Elon Musk continued efforts to complete his takeover of the company, this time by upping his commitment to $33.5 billion. Tanaya Macheel | Markets and Investing Reporter @tanayamac Watch our live stream for all you need to know to invest smarter. TOP NEWS  Dow rises for a fifth straight day, S&P 500 and Nasdaq on pace to snap 7-week losing streaks First-quarter GDP declined 1.5%, worse than thought; jobless claims edge lower Home listings suddenly jump as sellers worry they may miss out on the red-hot housing market 3 takeaways from Dollar General, Dollar Tree earnings that sent stocks soaring 'A lot of Costco love' — How the warehouse retailer became a staple of Asian America Ukraine says it faces a 'long stage of the struggle'; Germany insists Putin can't be allowed to win war Senate GOP blocks domestic terrorism bill, as Democrats urge action after Buffalo, Texas shootings Broadcom announces plans to buy VMware in $61 billion deal Kyle Bass says U.S. will be in a recession in coming year, with food and oil prices still climbing Baby formula supply should return to normal in two months, FDA commissioner says TOP VIDEO DCLA's Sarat Sethi discusses his value picks XPO, JPM and RTH CNBC PRO Earnings reports are causing big moves for stocks. Here's a way to play them with options SPECIAL REPORTS Home prices have surged. Here's how to tap into that equity if you aren't ready to sell Cybercriminals target metaverse investors with phishing scams Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS