REFILE-GLOBAL MARKETS-U.S. economic reports lift stocks, euro

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* U.S. jobless claims, trade data lift stocks, crude, euro

* Yen edges near 15-year high against dollar

* Safe-haven Treasuries, gold fall after data (Updates with U.S. markets' open)

By Manuela Badawy and Dominic Lau

NEW YORK/LONDON, Sept 9 (Reuters) - Stocks and the euro rose on Thursday after stronger-than-expected U.S. data on labor conditions and trade activity, raising hopes the tepid economic recovery would accelerate.

The yen edged near to a 15-year high against the dollar as investors bet Japanese authorities are not yet ready to curb the currency's strength. Crude prices rose and bonds fell.

New claims for unemployment insurance fell more than expected last week to their lowest level in two months and the U.S. trade deficit narrowed more than forecast in July as exports shot to their highest level since August 2008, painting a rosier picture for economic growth. For details, see[ID:nN09174403].

"The news flow has been positive over the last few days compared to what is was through most of August," said John Toohey, vice president of equity investments at USAA in San Antonio, Texas.

"You put that together with the fact sentiment among investors had turned more bearish than it has been since early 2009, you are ripe for a rally."

Fears of a double-dip recession have kept investors at bay and the stock market in a tight trading range for several months.

The Dow Jones industrial average <.DJI> added 61.91 points, or 0.60 percent, to 10,448.92. The Standard & Poor's 500 Index <.SPX> rose 9.49 points, or 0.86 percent, to 1,108.36. The Nasdaq Composite Index <.IXIC> gained 17.27 points, or 0.77 percent, to 2,246.14.

Capping gains in the Dow industrials, McDonald's Corp , the world's largest hamburger chain, dropped 2.7 percent to $74.03 after reporting weaker-than-expected August sales in Europe.

Japan's Finance Minister Yoshihiko Noda said the ministry was conducting simulations on forex intervention, though the Japanese currency hardly budged as the perception remains that Tokyo is unlikely to intervene until the U.S. currency falls near 80 yen.

Noda's comments were also undermined as Bank of Japan Governor Masaaki Shirakawa said he did not talk about currencies and monetary policy at a government meeting. [ID:nTKV006408]

"Comments from Japanese authorities indicated they are not in a hurry to intervene, so new (dollar) lows should be tested," Roberto Mialich, currency strategist at UniCredit in Milan, said.

The dollar pared losses against the yen after the release of the U.S. data, but the yen remained near a 15-year high against the dollar. The dollar is down 9.9 percent against the Japanese currency this year, which is buoyant on global growth concerns.

The euro eased 0.2 percent to 106.45 yen , hovering near a nine-year low. The single currency was up 0.2 percent against the dollar at $1.2750, helped by comments from European Central Bank Governing Council member Yves Mersch that the euro zone was on the brink of a sustainable recovery. [ID:nFLA9KE693].

STOCKS HIGHER

U.S. data and Mersch's remarks also lifted European shares to their highest in more than four months, with the FTSEurofirst 300 <.FTEU3> up 0.9 percent, while Germany's VDAX-NEW volatility index <.V1XI>, a gauge of investors' fears, eased 2.3 percent.

"Equity markets are getting used to the reality that economies are slowing quite significantly. The question is how much growth is required now to support equity markets," said Bernard McAlinden, investment strategist at NCB Stockbrokers in Dublin.

Illustrating the current dilemma, Deutsche Bank board member Juergen Fitschen said the risk of a credit crunch in the real economy has not abated as demand for loans rises, spurred by a rebound after the financial crisis.

World stocks measured by MSCI All-Country World Index <.MIWD00000PUS> rose 0.8 percent. The index, which carried a 12-month forward price-to-earnings of 11.23 against a 10-year average of 15.22, is down 2.8 percent this year.

In Asia, Japan's Nikkei average <.N225> rose 0.8 percent.

Oil rose above $75 a barrel, drawing strength from the U.S. data.

U.S government bonds fell, with the benchmark 10-year note , down 11/32 in price for a yield of 2.70 percent, up from 2.65 percent late Wednesday.

The 30-year bond was down 27/32 after briefly losing more than 1 point after the U.S. data. Its yield was last 3.77 percent, up from 3.73 percent late Wednesday.

The U.S. Treasury will reopen the 30-year bond it originally sold in August by $13 billion, which is part of this week's $67 billion in coupon-bearing supply.

Gold fell to session lows after the release of the U.S. data. Spot gold was bid at $1,253.05 a troy ounce. (Additional reporting by Rodrigo Campos in New York and Tamawa Desai, Brian Gorman and Marie-Louise Gumuchian in London; Editing by Kenneth Barry)