Mumbai, June 27 -- The Nasdaq jumped 194.36 points (1%) to 20,167.91, the Dow advanced 404.41 points (0.9%) to 43,386.84 and the S&P 500 climbed 48.86 points (0.8%) to 6,141.02.

Markets continued their upward momentum, pushing major indexes closer to record highs despite ongoing tariff concerns. The S&P 500 ended just 3 points shy of its February closing peak. Gains followed positive U.S. economic data, including a drop in jobless claims to 236,000. Commerce department released a report showing new orders for U.S. manufactured durable goods spiked by much more than expected in the month of May. It also said durable goods orders soared by 16.4% in May after tumbling by a revised 6.6% in April.

Excluding a substantial increase in orders f...