Investing.com – U.S. stock markets rallied on Thursday, after official data showed U.S. jobless claims fell last week and a stream of strong corporate earnings reports eased fears of a slowdown in U.S. economic growth.
During early U.S. trade, the Dow Jones Industrial Average was up 0.53%; the S&P 500 index rose 0.56% and the Nasdaq Composite index gained 0.37%.
Earlier in the day, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits last week was 457,000, down 11,000 on the previous week.
Analysts had expected claims to remain unchanged at 464K.
Among the top performers was biotech firm Genzyme, which rallied 4.4% after media reports that Sanofi- Aventis may pay as much as USD 8.7 billion for the drug maker.
Exxon Mobile, the largest U.S. oil company, gained 1.25% in early trade after posting its biggest profit increase since 2003.
However Colgate-Palmolive declined 5.27% after the world’s largest toothpaste maker reported lower-than-expected second-quarter sales of USD 3.81 billion.
Across the Atlantic, European stock markets were also higher: France’s CAC 40 advanced 1.05%; Germany's DAX rose 0.72%; Britain's FTSE 100 gained 0.76%; and the EURO STOXX 50 was up 0.99%.
Earlier Thursday, official data showed that unemployment in Germany fell more than expected in July.
During early U.S. trade, the Dow Jones Industrial Average was up 0.53%; the S&P 500 index rose 0.56% and the Nasdaq Composite index gained 0.37%.
Earlier in the day, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits last week was 457,000, down 11,000 on the previous week.
Analysts had expected claims to remain unchanged at 464K.
Among the top performers was biotech firm Genzyme, which rallied 4.4% after media reports that Sanofi- Aventis may pay as much as USD 8.7 billion for the drug maker.
Exxon Mobile, the largest U.S. oil company, gained 1.25% in early trade after posting its biggest profit increase since 2003.
However Colgate-Palmolive declined 5.27% after the world’s largest toothpaste maker reported lower-than-expected second-quarter sales of USD 3.81 billion.
Across the Atlantic, European stock markets were also higher: France’s CAC 40 advanced 1.05%; Germany's DAX rose 0.72%; Britain's FTSE 100 gained 0.76%; and the EURO STOXX 50 was up 0.99%.
Earlier Thursday, official data showed that unemployment in Germany fell more than expected in July.