US stocks follow European markets higher

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US stocks opened higher on Thursday, following Europe’s lead on better-than-expected earning results.

The S&P 500 rose 0.3 per cent, while the Dow Jones increased 0.2 per cent and the Nasdaq Composite was 0.4 per cent higher.

The moves followed strong corporate earnings from Unilever and Nestle, which helped boost European stocks ahead of the election in France. The Euro Stoxx 50 index was up 0.3 per cent, while the Europe Stoxx 600 rose less than 0.1 per cent.

US markets, however, are still on track for its worst month since January 2016, with the S&P 500 down 1.7 per cent and the Dow Jones down 2.4 per cent. Global uncertainty surrounding Syria and tensions with North Korea has suppressed markets.

Still, the yield on US Treasuries, which moves inversely to price, was up 2.8 basis points to 2.23 per cent on Thursday. Meanwhile the dollar, against a basket of its peers was down 0.11 per cent to 99.62.

On the docket for Thursday, Mike Pence will be continuing his Asia tour with a stop in Jakarta. Visa and Mattel will also be reporting corporate earnings after markets close.

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