It has been reported that U. S. markets closed higher for the third consecutive trading session on Thursday, a turnaround after seven straight sessions with declines.

According to the latest reports, the International Monetary Fund increased its growth projection for the global economy to 4.6 percent, compared with April's estimate of 4.2 percent growth. In Washington, the Labor Department said 454,000 first-time jobless claims were filed in the week ending July 3, 21,000 fewer than the previous week.

The Dow Jones industrial average by close rose 120.71 points or 1.2 percent to 10,138.99.

The Standard & Poor's 500 index gained 9.98 or 0.94 percent to 1,070.25.

Adding 15.93 or 0.74 percent, the Nasdaq composite index of tech-dominated stocks went up to 2,175.40.

2,327 stocks advanced and 691 declined on a volume of 5.1 billion shares traded, on the New York Stock Exchange.

The benchmark 10-year treasury note fell 15/32 to yield 3.038 percent.

From Wednesday's $1.2642, the euro rose to $1.2698. The dollar, against the yen, rose to 88.31 yen from Wednesday's 87.75 yen. (With Inputs from Agencies)