Wall Street and Europe headed higher just two days before the end of this year. The Nasdaq technology index posted the biggest gain. Of the European markets, Milan was the best performer, with its stock market gaining 1.2 percent.
The strengthening occurred thanks to the shares of economic giants
The Nasdaq technology index added over 2.5 percent during Thursday’s trading. The main index of the New York Stock Exchange, the S&P 500, gained 1.75 percent and the Dow Jones Industrial Average gained 1.05 percent. The technology index was helped most by stocks of giants such as Apple, Alphabet, Microsoft and Amazon.
The tension in the US continues
Overall, the US stocks played into the hands of the current labour market data. The U.S. Department of Labor reported that there was an increase in the number of Americans newly filing for unemployment benefits in the past week. However, the US labour market remains relatively tight, but current developments suggest that inflationary pressures coming from the labour market could be waning.
European stocks also strengthened
European equities also did well on Thursday. The Milan stock exchange recorded the largest increase, followed by Frankfurt and Paris. In all cases, the stock market indices appreciated around one percent. London added just 0.21 per cent.