The Dow Jones industrial average rose sharply on Thursday, posting its sixth straight day of gains, following the release of weaker-than-expected U.S. inflation data.

Exxon Mobil and UnitedHealth were the best-performing stocks in the 30- stock index, which closed positive for 2018. The Dow rose 196.99 points to close at 24,739.53.

Meanwhile, the gained 0.9 percent to 2,723.07, with utilities and telecom both rising more than 1 percent. The Nasdaq composite advanced 0.9 percent to close at 7,404.97 as Apple reached an all-time high.

Technology shares also aided the broader indexes. The sector rose about 1.3 percent, as shares of Apple, Facebook, Amazon and Google-parent Alphabet all closed higher.

"Inflation is gradually rising, but it's less likely to feed into the volatility we've seen recently," said Mike Bailey, director of research at FBB Capital Partners. "I also think investors are looking at valuations and realize they are pretty reasonable."

The Labor Department said before the open its consumer price index rose 0.2 percent in April, with economists polled by Reuters expecting a 0.3 percent bump. The lighter-than-forecast number eased concerns about the Federal Reserve tightening monetary policy at a faster rate than the market is expecting.