US Stocks rose on Thursday as investors returned to financial and technology shares on bets the recent rally could have more room to grow after a brief pullback.

Technology gains were led by big?cap tech and semiconductor companies after five straight days of losses for the PHLX Semiconductor index Apple Inc was among the top boosts on Nasdaq, rising 2.9 percent to $122.95, while the PHLX index climbed 3.2 percent.

Data showed the number of U.S. workers filing new claims for jobless benefits rose more than expected in the latest week, pushed up by plant shutdowns related to Chrysler's bankruptcy.

The report came on the heels of Wednesday's figures showing consumers were still reluctant to spend and reviving worries over the length of the recession after optimism that the downturn was showing signs of abating.

The U.S. government approved six insurers for bailout funds after investment declines eroded capital across the industry, a person familiar with the matter said. Ratings downgrades and stock declines across the industry made it harder for insurers to raise money from private investors.

Prudential Financial Inc., Hartford Financial Services Group Inc. and Allstate Corp. are among six insurers approved by the U.S. government for bailout funds after investment declines eroded capital across the industry.

BT Group Plc, the U.K.’s largest phone company, lowered its dividend after posting a fourth? quarter loss on costs to overhaul the global services division and said a further 15,000 jobs will be cut this year. The net loss was 977 million pounds ($1.48 billion) in the three months through March, compared with a profit of 426 million pounds a year earlier. BT predicts sales will fall 4 percent to 5 percent this year. BT fell 6.4 percent in London trading. The company said it aims to cut capital expenditure and costs by “well over” 1 billion pounds this fiscal year. In Indian BT is the largest customer of Infosys and Tech Mahindra.

Asian stocks climbed, paring the MSCI Asia Pacific Index’s first weekly decline in three, after Sony Corp. forecast a smaller loss than analysts expected and bank borrowing costs plunged.

We expect Indian market to open positive and remain range bound thereafter.