Investors hailed a good batch of quarterly earnings from Macy’s and other retailers as stocks finished broadly higher on Wall Street Thursday.

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The S&P 500 gained 2% and is on track for its first weekly gain following seven straight losses, the longest such streak since 2001.

The Dow Jones Industrial Average increased by 1.6%, while the Nasdaq increased by 2.7%. Smaller firm stocks gained significantly as well, indicating that the economy is improving.

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Bond yields increased. The yield on the 10-year Treasury note, which helps set mortgage interest rates, increased to 2.75% from 2.74% Wednesday Night.

Roughly 90% of the stocks in the S&P 500 rose, with technology companies, banks and retailers driving much of the rally. While trading has remained choppy this week, the market has mostly pushed higher, unlike the past five weeks, when the S&P 500 had a pullback of 2% or more at least one day each week.

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The S&P 500 rose 79.11 points to 4,057.84. The Dow added 516.91 points to 32,637.19, and the Nasdaq rose 305.91 points to 11,740.65.

The Russell 2000 index of smaller companies climbed 39.07 points, or 2.2%, to 1,838.24.

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Retailers led the broader market higher Thursday. Macy’s surged 19.3% after it raised its profit forecast for the year following a strong first-quarter financial report. Dollar General vaulted 13.7% and Dollar Tree jumped 21.9% for the biggest gain in the S&P 500 after the discount retailers reported solid earnings and gave investors encouraging forecasts.

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Technology stocks also rose. TurboTax maker Intuit rose 4.6%. Companies in the sector, with their lofty stock values, tend to push the market harder up or down.

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Airline stocks rallied on encouraging summer travel forecasts. Southwest Airlines rose 6% and JetBlue rose 3.4%. U.S. crude oil prices rose 3.4% and are up more than 55% for the year.