(CNBC) U.S. stocks climbed on Thursday, recovering much of the prior day's losses, as reports on U.S. leading indicators and regional manufacturing spurred optimism the nation's economy would strengthen after first-quarter weakness, helping offset concerns that interest rates could climb quicker than had been anticipated.
"We're getting back what we lost, now that people have had a chance to reflect; The Fed is in no hurry to normalize the Fed funds rate. That exercise is going to be very deliberate and glacial, and the market is perhaps settling into that recognition," said Mark Luschini, chief investment strategist at Janney Montgomery Scott.