US stock indexes extend rally to a 3rd day

Companies that make packaged foods and other consumer goods led a broad rise in U.S. stocks late Thursday afternoon, extending a rally into a third day.

Investors also continued to drive U.S. bond prices higher, a sign that some traders remain cautious about the possible ramifications of Britain's vote to leave the European Union.

A simultaneous rise in prices for stocks and U.S. bonds is unusual and suggests nervous investors overseas are seeking the relative safety of bonds even as other traders look to ride the U.S. stock market rally further, said David Schiegoleit, managing director of investments for the private client reserve at U.S. Bank.

Cable channel Starz climbed 6 percent after agreeing to be acquired by Lions Gate Entertainment, which owns the "Orange Is The New Black" Netflix series and the "Hunger Games" movies.

Darden Restaurants fell 3.9 percent after the parent company of Olive Garden forecast a profit for its fiscal 2017 that fell short of Wall Street expectations.

Deutsche Bank slid 2.6 percent after the Federal Reserve rejected its plans to return capital to shareholders through dividend increases and share buybacks.

Pier 1 Imports slumped 6.5 percent after the home decor retailer reported disappointing quarterly results.

The Labor Department said applications for unemployment benefits rose last week, but the level of claims remains low enough to suggest that most workers enjoy job security.

Britain's stock market has recouped its losses, though that is largely thanks to the pound's drop, which helps the big companies' overseas earnings.

Japan's benchmark Nikkei 225 edged up 0.1 percent, while South Korea's Kospi rose 0.7 percent.

Wholesale gasoline fell 2 cents to $1.50 a gallon, while heating oil shed 5 cents to $1.48 a gallon.