Global stock markets on Thursday, August 31, faired well following a healthy rally. The MSCI’s world index, which tracks shares in 46 countries, was up 0.2 percent.
The Dow Jones Industrial Average rose 43.75 points, or 0.2 percent, to 21,909.12, the S&P 500 gained 13.12 points, or 0.54 percent, to 2,459.42 and the Nasdaq Composite added 67.52 points, or 1.07 percent, to 6,369.41.
European stocks rose in a relief rally a day after geopolitical concerns caused a sharp dip across equity markets. The pan-European STOXX 600 closed 0.7 percent higher.
In the bond market, benchmark 10-year U.S. Treasury notes were down 3/32 in price to yield 2.15 percent, up from 2.14 percent on Tuesday.
Concerns about rising tensions with North Korea, and risks surrounding the U.S. government’s need to raise the debt ceiling next month, however, remained forefront in investors’ minds.
The dollar, which rose on speculation that the European Central Bank could step in to weaken the euro, also was helped by the strong data. The euro was 0.63 percent lower to $1.1897, on pace for its worst day in more than three weeks.
“People are starting to sit back and wonder: ’what is the ECB going to do about inflation still being below expectations in Europe?’,” said Dean Popplewell, chief currency strategist at Oanda in Toronto.
The ECB is set to hold a policy meeting next week.
The dollar index, which measures the greenback against a basket of six major currencies, was 0.65 percent higher at 92.852.
The greenback briefly pared gains after Trump dismissed any diplomatic negotiations with Pyongyang, saying “talking is not the answer.”
With Tropical Storm Harvey shutting over a fifth of U.S. refineries, U.S. gasoline futures were up 4.4 percent at $1.8624 a gallon, having hit $1.9231, the highest since July 2015.
Brent oil, the international benchmark for crude trading, was down $1.08 at $50.92 a barrel. U.S. crude was down 38 cents to $46.06.
