Stocks rose higher on Thursday as technology stocks rallied, marking a third straight session of gains for Wall Street amid more mixed earnings. The Nasdaq Composite rose over 1%, while the Dow Jones Industrial Average and S&P 500 Index climbed about 0.5% and 1% higher, respectively.

Thursday's gains, led by stocks like Tesla (TSLA  ) and Amazon (AMZN  ), are setting the Nasdaq on track to close the week up over 5%. The Dow is also up over 2% for the week, while the S&P 500 is 3.5% higher.

Here's how the market settled on Thursday:

S&P 500 Index (SPY  ): +0.99% or +39.05 points to 3,998.95

Dow Jones Industrial Average (DIA  ): +0.51% or +162.06 points to 32,036.90

Nasdaq Composite Index (QQQ  ): +1.36% or +161.96 points to 12,059.61

On the earnings front, Tesla rose higher after reporting better-than-expected earnings after Wednesday's close. Meanwhile, AT&T (T  ) dropped 7.6% despite reporting better-than-expected earnings after the telecommunication company lowered its full-year free cash flow guidance.

Moreover, American Airlines (AAL  ) also fell over 7% after the carrier cut back on its growth plans following its mostly in-line earnings report. United Airlines (UAL  ) dropped over 10% after the carrier posted lower-than-expected earnings, citing higher operating expenses and fuel costs impacting profits.

Elsewhere, the dollar declined on Thursday after the European Central Bank raised interest rates for the first time in over a decade by 50 basis points.

On the economic front, weekly unemployment filings totaled 251,000 for the week ended July 16, according to the Labor Department's latest report, marking an increase of 7,000 from the previous week. This is the highest level of weekly jobless claims since November 2021, signaling that the labor market is beginning to soften in response to higher interest rates and inflationary pressures.

S&P Global Ratings reported Thursday U.S. housing affordability is expected fall to levels not seen since 2007 later this year, predicting that mortgage payments will increase to 28% of income for the first-time buyer. According to guidelines from the National Association of Realtors, mortgages should not exceed 25% of incomes to be considered affordable.