U.S. stocks jumped on Thursday, with the Nasdaq adding 2 percent as Meta Platforms surged on rigorous cost controls, while a dovish message from Federal Reserve Chair Jerome Powell boosted bets of a softer landing for the U.S. economy.

The Nasdaq Composite gained 248.83 points, or 2.11 percent, to 12,065.15 at the opening bell.

The Dow Jones Industrial Average rose 36.34 points, or 0.11 percent, at the open to 34,129.30, while the S&P 500 opened higher by 39.47 points, or 0.96 percent, at 4,158.68.