The U.S. bourses sprang forward in Thursday trading as the indexes hinged their impressive performance on the back of the big banks' strong 3rd quarterly performance and the moderating jobless claims falling the lowest levels since COVID-19 pandemic.
The Dow Jones Industrial Average rose 533 points, or 1.55%, while the S&P 500 index advanced 1.71% to post its best day since March and the Nasdaq Composite Index tacked on 1.73% for its best session since May.
However, the prevailing inflationary pressure further amplified producer prices which rose 8.6% year over year in September, making for the sixth straight record increase. Prices edged up 0.5% month-on-month.
European bourses were broadly higher with Britain’s FTSE 100 up 0.92%, Germany’s DAX advancing 1.4%, and France’s CAC 40 rising 1.33%.
In Asia, Japan’s Nikkei 225 surged 1.46% while China’s Shanghai Composite index slipped 0.1%. Hong Kong’s Hang Seng index remained closed for the holiday.