Dow Jones rises for 7th straight session, closes 330 points higher
US stocks closed Thursday in the green, as bond yields declined after strong demand at a bond auction, amid economic data that revived hopes for interest rate cuts by the Federal Reserve later this year.
The Dow Jones Industrial Average gained 331 points, or 0.85%, closing at 39,387 points, extending its gains for the seventh consecutive session. The index posted the longest winning streak since mid-December 2023.
The S&P 500 index rose by 0.5%, or 26 points, to 5,214. The Nasdaq Composite Index gained 43 points, or 0.25%, to end at 16,346.
Elsewhere, the STOXX Europe 600 Index added 0.2% to 516.7 points, closing at a record close high for the third time in May.
FTSE 100 closed at a record level for the fifth time this month, gaining 0.35% to end at 8,381 points. Germany’s DAX 40 Index surged 1% to a record of 18,686 points. The CAC 40 Index closed 0.7% up at 8,187 points.
The Nikkei 225 shed 0.35%, or 128 points, to finish at 38,073 points. TOPIX inched up 0.25% to 2,713 points.