Major US stock indices opened higher on Thursday on cooling of geopolitical tensions after President Donald Trump dialed back his tariffs threat on European nations over Greenland acquisition.
The market sentiments were also boosted by latest US economy data for third quarter. The inflation-adjusted gross domestic product (GDP), which measures the value of goods and services produced in the US, rose at a revised 4.4% annualized rate, the fastest in two years.
Official data showed US initial jobless claims steadied at 200,000 last week after a volatile holiday season.
At the opening bell, the Dow Jones Industrial Average rose 0.81%. The S&P 500 rose 0.70%, while the Nasdaq Composite rose 0.97%.
President Trump also said that he had a “good” meeting with Ukrainian President Volodymyr Zelenskiy and expressed renewed hope the war Russia has started four year ago is going to end.
