Subprime worries and concerns about tighter credit standards kept a lid on the markets Thursday, before earnings enthusiasm eventually won pushing US markets to another late-day rally.

In economic news, the Labor Department reports new applications for jobless benefits rose by a less-than-expected 4,000 last week. That's the fourth week in a row the number has come in lower than anticipated, pointing to strength in the labor market.

On Thursday, The Dow Jones Industrials rallied 101 points closing at 13,463; S&P500 ended 6 points stronger at 1,472, and the Nasdaq added 23 points to finish at 2,576.