US stocks advanced on Thursday on Walmart’s strong earnings and optimism over debt ceiling deal.
The S&P 500 gained 39.07 points, or 0.94%, at 4,197.84. The Dow Jones Industrial Average rose 117.25 points, or 0.35%, at 33,538.02. The Nasdaq Composite surged 188.60 points, or 1.51%, at 12,689.44.
Walmart reported better-than-expected first quarter results and also raised its annual profit forecast. Walmart stock ended 1.3% higher at $151.47.
A report showed that US jobless claims fell last week to 242,000.
A regional economic survey showed that existing home sales fell for a second month running as higher mortgage rates make it more expensive to borrow.
Netflix shares rallied 9.80% after it said its recently launched ad-supported tier reached nearly 5 million active users per month.
On Wednesday, President Joe Biden and top US Congressional Republican Kevin McCarthy reiterated their aim to strike a deal soon to raise the debt ceiling.
The yield on the 10-year treasury rose to 3.64% from 3.57% late Wednesday. The 2-year yield rose to 4.25% from 4.16%.
Currencies
The US dollar rose to 138.68 Japanese yen from 137.61. The euro fell to $1.0767 from $1.0838.
Europe
European stocks surged on Thursday on hopes of a breakthrough in the US debt ceiling talks.
The pan-European STOXX 600 index rose 0.4%, led by automobiles and technology stocks.
Britain’s FTSE 100 rose 0.3% at 7,742.30. Germany’s DAX climbed 1.3% at 16,163.36. France’s CAC 40 added 0.6% at 7,446.89.
Asia
Asian markets rose on Thursday.
Hong Kong’s Hang Seng index added 0.9% at 19,727.25. China’s Shanghai Composite rose 0.4% at 3,297.32. South Korea’s benchmark Kospi closed up 20.74 points, or 0.83%, at 2,515.40.
Japan’s Nikkei 225 gained 1.6% at 30,573.93.
Australia’s S&P/ASX 200 index gained 0.5% at 7,236.80. New Zealand’s benchmark S&P/NZX 50 index rose 0.2%, to close at 11,976.08.
Energy prices
Brent crude for July delivery fell $1.10 to $75.86 a barrel on Thursday. US crude oil benchmark for June delivery fell 97 cents to $71.86 a barrel.
Natural gas for June delivery rose 22 cents to $2.59 per 1,000 cubic feet.
Bullion
Gold for June delivery fell $25.10 to $1,959.80 an ounce. Silver for July delivery fell 27 cents to $23.63 an ounce.
