NEW YORK: Wall Street indexes have risen slightly in thin holiday trading, supported by gains in technology and financial stocks.
Apple’s 0.4 per cent rise along with gains in high-flying FANG stocks – Facebook, Amazon, Netflix and Alphabet – were the biggest drivers of the S&P and the Nasdaq.
Commodities were in the spotlight, with oil prices near their two-and-a-half-year highs and copper at a four-year peak, helping global equities hit record levels.
The benchmark S&P 500 has climbed nearly 20 per cent this year, on track to record its best annual gains since 2013, boosted by robust economic growth and solid corporate earnings.
The rally is widely expected to extend into 2018, fuelled by gains from a new US tax law that lowers tax burden on companies.
The US dollar slipped to a four-week low against a basket of currencies, under pressure from a recent dip in US 10-year bond yields. A weaker US dollar tends to boost revenue of companies with large global presence.
In late afternoon trading, the Dow Jones Industrial Average was up 0.18 per cent, at 24,818.48, the S&P 500 was up 0.06 per cent, at 2,684.25 and the Nasdaq Composite was up 0.04 per cent, at 6,942.31.
LONDON: European shares inched lower on Thursday with company news and macro events scarce in holiday-thinned trading.
The pan-European STOXX 600 index fell 0.3 per cent, while Frankfurt’s DAX gained 0.69 per cent to 12,979.94.
Tech stocks extended the previous session’s losses, when chipmakers were hit by concerns over demand for Apple’s iPhone X. Shares in Dialog Semiconductor rebounded on Thursday, however.
Britain’s top share index steadied at record highs as mining stocks rallied, though strength in the pound capped gains.
The blue chip FTSE 100 index ended flat at 7,622.88. During the session it rose by as much as 0.2 per cent, slightly topping the record level reached in the previous session.
The UK’s mining index traded at its highest level since mid-2014 as shares in Anglo American, Antofagasta, Glencore and BHP Billiton all rose between 0.6 per cent and 0.9 per cent, thanks to the underlying copper price hitting a fresh four-year high.
TOKYO: Shares in Asia advanced slightly, except Japan, adding to a strong calendar year of gains despite reports of lacklustre demand for Apple Inc’s iPhone X, mixed US economic data and a stalled recovery in oil prices.
MSCI’s Asia ex-Japan stock index was firmer by 0.98 per cent, but Japan’s Nikkei index fell 0.56 per cent to 22,783.98.
Hong Kong’s benchmark stock index rose for a fourth consecutive session, amid bullish sentiment, closing up 0.90 per cent at 29,863.71.
China’s main Shanghai Composite index gained 0.63 per cent to 3,296.39 points and its blue-chip CSI300 index rose 0.69 per cent at 4,018.90.
WELLINGTON: The S&P/NZX 50 index gained 0.4 per cent, to 8,408.53.