Alexa

Stocks rise as China shows confidence in Europe

Stocks rise as China shows confidence in Europe

Stocks are surging at the open after China reassured investors it doesn't plan to sell any of the European debt it holds.
China's confidence in Europe is overshadowing disappointing reports on U.S. weekly unemployment claims and gross domestic product.
The Labor Department says initial jobless claims fell to 460,000. Economists were expecting a drop to 455,000.
A separate report Thursday says the U.S. economy grew by 3 percent in the first quarter. That's worse than a previous estimate of 3.2 percent.
The Dow Jones industrial average is up 154.85 points, or 1.6 percent, at 10,129.30. The Standard & Poor's 500 index is up 16.32, or 1.5 percent, at 1,084.27, while the Nasdaq composite index is up 52.06, or 2.4 percent, at 2,247.94.


Updated : 2021-04-15 07:52 GMT+08:00