New York, Sep 11 (IANS): US stocks posted gains after volatile trading, as investors tried to digest mixed economic reports ahead of the Federal Reserve's policy meeting next week.

The Dow Jones Industrial Average added 76.83 points, or 0.47 percent, to 16,330.40 on Thursday, Xinhua reported.

The S&P 500 gained 10.25 points, or 0.53 percent, to 1,952.29. The Nasdaq Composite Index was up 39.72 points, or 0.84 percent, to 4,796.25.

In the week ending September 5, the advance figure for seasonally adjusted initial jobless claims was 275,000, a decrease of 6,000 from the previous week's revised level, the US Labor Department said on Thursday.

In a separate report, the department said US import prices declined 1.8 percent in August due to falling oil prices and a rising dollar, logging their biggest drop in seven months.

Prices for US exports also fell 1.4 percent in August, exceeding market consensus of a 0.4-percent decline.

The strengthening US labour market and falling import prices triggered market debate over whether the Fed should raise interest rates next week.

Uncertainty about the Fed's rate decision at its two-day policy meeting next week has contributed to the recent market volatility.