After strong US data, stocks are mostly up.


After strong US data, stocks are mostly up.

Following statistics confirming a strong US economic rebound, major stock markets mainly climbed on Thursday.

In noon trading, Frankfurt was up, with traders focussing on Germany’s recent agreement to establish a new government.

This helped to counteract news that Europe’s largest economy had cut its third-quarter growth forecast due to an increase in Covid cases.

After a similar image overnight on Wall Street, the main Asian indices mostly concluded the day with gains.

The US markets were closed for the Thanksgiving holiday on Thursday.

“European indices have edged slightly higher in the quiet Thanksgiving Day session in global markets, taking their cue from a better finish to the day yesterday, especially in the US, where the usual pre-holiday buying helped to lift stocks,” said Chris Beauchamp, chief market analyst at IG trading group.

Oil prices have remained stable, one day after the president of the International Energy Agency urged OPEC and its allies to take steps to lower petroleum prices to “reasonable levels.”

A reduction in US jobless claims to a five-decade low, combined with a spike in consumer income and spending, bolstered hope that the US is on the mend, but increased pressure on the Federal Reserve to avoid overheating.

The data came as minutes from the Federal Reserve’s November policy meeting revealed that officials were moving closer to unwinding their massive bond-buying stimulus program, known as quantitative easing, at a faster pace in order to keep prices from skyrocketing.

The Fed also hinted that it would raise US interest rates sooner than expected to maintain a lid on spiraling inflation, which is being fueled in part by high energy prices.

The S&

On Thursday, Tokyo led Asia’s advances, while Seoul was hit by the South Korean central bank’s move to raise interest rates.

The FTSE 100 index in London is up 0.2 percent to 7,297.12 points.

DAX is up 0.2 percent at 15,901.43 in Frankfurt.

CAC 40 in Paris is up 0.2 percent to 7,056.75.

At 4,287.17, the EURO STOXX 50 index is up 0.3 percent.

Nikkei 225 in Tokyo is up 0.7 percent to 29,499.28. (close)

The Hang Seng Index in Hong Kong is up 0.2 percent to 24,740.16. (close)

Shanghai Composite: 3,584.18, down 0.2 percent (close)

Dow: FLAT at 35,804.38 in New York (close)

At 2210 GMT, the euro/dollar was trading at $1.1219, up from $1.1203.

Euro to pound: 84.23 pence, up from 84.02 pence.

Pound/dollar: $1.3318, down from $1.3330.

Brent North Sea crude is trading at $81.11 a barrel, up 0.1 percent. The state of Texas is located in the west. The Washington Newsday Brief News is a daily newspaper published in Washington, D.C.


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