US: Stocks rise again after good eurozone data

[NEW YORK] Wall Street stocks rose early on Friday, extending a market rebound following a three-day slide earlier in the week as European economic data strengthened significantly.

Business activity in the eurozone is growing at its fastest rate in three years, according to IHS Markit, an indication of rising momentum after business restrictions imposed during the Covid-19 pandemic.

Major indices scored strong gains on Thursday following consecutive declines, as investors bet on the strength of the reopening economy and appeared to put aside concerns about inflation.

About 20 minutes into trading, the Dow Jones Industrial Average was up 0.8 per cent at 34,362.38 The broad-based S&P 500 gained 0.5 per cent to 4,180.27, while the tech-rich Nasdaq Composite Index edged up 0.2 per cent to 13,557.90.

AFP