Investing.com - U.S. stocks opened higher Friday, as jobless claims and housing data signal continued improvement in the world’s largest economy.
At the open of U.S. trade, the Dow gained 0.18%, the S&P 500 advanced 0.47% and the Nasdaq Composite added 0.81%.
Stocks found support as applications for U.S. jobless benefits were unchanged in the week ending February 18, the fewest since March 2008.
Home prices climbed 0.07% in December beating estimates and adding to the stock bullish session.
However , euro stocks did not participate in the rally, as the European Commission changed its November economic growth forecast for 0.05% growth to a 0.3% contraction in the euro zone.
The EU expects the economy to shrink 1.3% in Italy and give back 1% in Spain.
Trying to calm fears, the European Union Economic and Monetary Commissioner, Olli Rehn stated, “Although growth has stalled, we are seeing signs of stabilization in the European economy. Economic sentiment is still at low levels, but stress in financial markets is easing.”
Meanwhile, Germany posted better than expected business climate index figures. The Munich based Ifo institute’s business climate index climbed to 109.6 in February from 108.3 in January.
In Greek news, German Chancellor Angela Merkel stated she will keep the pressure on Greece to meet its debt cutting pledges as many are skeptical of Greece sticking to its word.
Meanwhile in mid European trade, the EURO STOXX 50 gained 0.36%, France's CAC 40 traded higher 0.37%, while Germany’s DAX gained 0.48%. Meanwhile, in the U.K. the FTSE 100 slipped 0.07%.
At the open of U.S. trade, the Dow gained 0.18%, the S&P 500 advanced 0.47% and the Nasdaq Composite added 0.81%.
Stocks found support as applications for U.S. jobless benefits were unchanged in the week ending February 18, the fewest since March 2008.
Home prices climbed 0.07% in December beating estimates and adding to the stock bullish session.
However , euro stocks did not participate in the rally, as the European Commission changed its November economic growth forecast for 0.05% growth to a 0.3% contraction in the euro zone.
The EU expects the economy to shrink 1.3% in Italy and give back 1% in Spain.
Trying to calm fears, the European Union Economic and Monetary Commissioner, Olli Rehn stated, “Although growth has stalled, we are seeing signs of stabilization in the European economy. Economic sentiment is still at low levels, but stress in financial markets is easing.”
Meanwhile, Germany posted better than expected business climate index figures. The Munich based Ifo institute’s business climate index climbed to 109.6 in February from 108.3 in January.
In Greek news, German Chancellor Angela Merkel stated she will keep the pressure on Greece to meet its debt cutting pledges as many are skeptical of Greece sticking to its word.
Meanwhile in mid European trade, the EURO STOXX 50 gained 0.36%, France's CAC 40 traded higher 0.37%, while Germany’s DAX gained 0.48%. Meanwhile, in the U.K. the FTSE 100 slipped 0.07%.