Thursday's afternoon trade: Wall Street gains

Signs of strength in the labour market and manufacturing sector, as well as higher quarterly profit from FedEx, lifted US stocks Thursday, but a stark warning from the IMF about inaction over Europe's crisis weighed on sentiment. FedEx Corp shares shot up 7.1 percent to $82.74 after the package delivery company, seen as a bellwether of economic activity, reported higher-than-expected quarterly profit.
The Dow Jones industrial average gained 74.81 points, or 0.63 percent, to 11,898.29. The Standard & Poor's 500 rose 6.89 points, or 0.57 percent, to 1,218.71. The Nasdaq Composite added 6.42 points, or 0.25 percent, to 2,545.73.