SINGAPORE – Global stocks extended a rally Thursday amid investor optimism that the U.S. economy may grow more than previously expected this year.
Benchmark oil stayed below $98 per barrel while the dollar rose against the euro but fell against the yen.
In early trading in Europe, the FTSE 100 index of leading British shares was steady at 5,789.42 while Germany’s DAX was 0.2 percent higher at 6,628.94. The CAC-40 in Paris advanced 0.5 percent at 3,384.05. Wall Street also appeared headed for a higher opening, with Dow Jones industrial futures rising 0.1 percent to 12,671 while SP 500 futures gained 0.1 percent to 1,321.30.
The gains followed a rally in Asia earlier in the day. Tokyo’s Nikkei 225 rose 0.8 percent to 8,876.82 while Hong Kong’s Hang Seng shot up 2 percent to 20,739.45 and Seoul’s Kospi added 1.3 percent to 1,984.30.
Signs of an improving U.S. economy have helped bolster trader sentiment. Factories raised output in January by the most in seven months, according to the Institute for Supply Management’s manufacturing index on Wednesday. And the Commerce Department said construction spending rose 1.5 percent in December, the fifth straight monthly gain.
Investors have also been cheered by growing optimism that contagion from a
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