NEW YORK (Reuters) - The S&P 500 and Nasdaq advanced on Thursday, as gains in heavyweight tech stocks outweighed downbeat data that affirmed the Federal Reserve’s view of a difficult road to economic recovery.

Gains in Apple Inc - the only publicly listed U.S. company to cross the $2 trillion market value milestone - Amazon.com Inc and Microsoft Corp underpinned the three main indexes’ gains as investors bet they would ride out the economic crisis.

Stocks had opened lower after data showed jobless claims rose unexpectedly back above the 1 million mark last week after slipping below that level for the first time since the start of the pandemic.

A separate set of data from the Philadelphia Fed showed a business conditions index fell more than expected in August.

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