- Spain welcomed record number of tourists this summer
- France says coming tax hikes on the wealthy to be 'temporary'
- Why are Thailand's roads so deadly?
- Oracle to invest $6.5 bn in Malaysian cloud services region
- Parkrun marks 20 years of a free weekly jog, run... or walk
- Oil extends rally after Iran attack, Hong Kong soars again
- Prostitutes, prospectors drive spread in DR Congo mpox capital
- Oil extends rally after Iran attack, Hong Kong resumes surge
- Extreme heat another form of death sentence in Texas jails
- Can music help plants grow? Study suggests sound boosts fungus
- Nike earnings drop, says turnaround will take time
- US dockworkers launch mass strike a month before election
- Iron Dome: Israel's key anti-missile shield
- Cranes stand still as US dockworkers fight for 'future'
- GM reports US sales dip, but says EVs grew
- Sheinbaum takes office as Mexico's first woman president
- Webb telescope detects carbon dioxide on Pluto's largest moon
- Stock markets slump, oil jumps on Middle East concerns
- French PM vows more taxes and spending cuts ahead of budget fight
- Germany inaugurates IBM's first European quantum data centre
- Stock markets diverge as eurozone inflation drops further
- France's richest man takes control of Paris Match magazine
- Anger meets tear gas as Nigeria hardship protests fizzle out
- US dockworkers launch mass strike month before election
- Evacuations from Lebanon: what we know
- Feathers fly at Chanel's Paris fashion return
- UAE oil giant ADNOC swoops on German chemicals firm Covestro
- Eurozone inflation falls under 2% for first time since 2021
- Coldplay ticket scalping fiasco sparks backlash in India
- Droughts drive Spanish boom in pistachio farming
- Tokyo recovers some losses to lead Asian markets higher
- Rural schools empty in North Macedonia due to exodus
- US dockworkers launch strike after labor contract expires
- Thousands evacuated as Super Typhoon Krathon approaches Taiwan
- Kenya airport whistleblower fears for his life
- Sheinbaum to take office as Mexico's first woman president
- Scientists fear underfunded Argentina research on verge of collapse
- US port officials gird for strike despite last-minute bargaining
- With 118 dead from Hurricane Helene, Biden defends US government response
- Breeder who tried to create enormous trophy sheep jailed in US
- Qatar Airways seeking 25% stake in Virgin Australia
- US port officials gird for strike as labor talks stay stuck
- As toll crosses 100, Trump puts Hurricane Helene at election center stage
- US Fed Chair sees 'further disinflation' in economy
- Epic Games sues Google and Samsung over app store
- Officials see no shortages from likely US port strike
- UK families of Gaza hostages warn Lebanon attack 'takes focus away'
- Shares in Stellantis, Aston Martin skid on profit warnings
- Dali prints found in London garage sold at auction
- ECB chief backs bank mergers amid UniCredit, Commerzbank talk
US stocks rally again as China premier warns on Covid-hit economy
Wall Street stocks rose for a second straight session Thursday on a mixed day for global equities, while China's premier offered an unusually stark warning as the country's zero-Covid strategy bites into growth.
After a positive session in Europe, the S&P 500 finished Thursday's session up two percent, positioning the broad-based US index to potentially snap a seven-week losing streak depending on Friday's session.
"The market was very oversold, and way overdue to bounce," Adam Sarhan of 50 Park Investment said shortly before the market closed. "And what's happening now, the market is bouncing pretty strong."
Stock markets have taken a beating this year as central banks have begun to raise interest rates in order to curb the highest consumer price rises in decades.
But US stocks pushed higher on Wednesday after investors took a positive view of the Federal Reserve minutes, which raised hopes that while the central bank would move aggressively to lift interest rates, it might be able to halt additional rate hikes as soon as this summer if inflation recedes.
Wall Street kept up the positive momentum Thursday following strong earnings reports from a range of retailers including the discount firm Dollar Tree, as well as department store Macy's and the more upscale Williams-Sonoma.
Besides the strong retailer results, moves by Southwest Airlines and JetBlue Airways to lift their revenue forecasts -- another sign of strong consumer behavior -- also boosted the momentum.
Earlier, Asian markets had a mixed session after China's premier warned of more economic difficulties ahead.
In some ways, the challenges now are "greater than when the pandemic hit hard in 2020," Premier Li Keqiang told a State Council meeting on Wednesday, according to a readout by the official Xinhua news agency.
"We are currently at a critical juncture in determining the economic trend of the whole year," Xinhua quoted Li as saying.
China is the last major economy welded to a policy of mass testing and hard lockdowns to eliminate virus clusters, but the strict curbs have battered businesses.
Li's remarks are the latest in a growing chorus of calls from officials and business leaders for more balance between stopping the virus and helping the ailing economy.
Meanwhile, oil prices surged above $117 a barrel, hitting levels not seen since March, fueled in part by strong gasoline demand in the United States ahead of the Memorial Day weekend, the traditional start of the summer driving season.
In corporate news, Broadcom announced a $61-billion deal to purchase cloud computing firm VMware in a giant tech transaction that expands the chipmaker's software offerings.
Shares in Broadcom climbed 3.6 percent, while those in VMware rose 3.2 percent.
- Key figures at around 2030 GMT -
New York - Dow: UP 1.6 percent at 32,637.19 (close)
New York - S&P 500: UP 2.0 percent at 4,057.84 (close)
New York - Nasdaq: UP 2.7 percent at 11,740.65 (close)
London - FTSE 100: UP 0.6 percent at 7,564.92 (close)
Frankfurt - DAX: UP 1.6 percent at 14,231.29 (close)
Paris - CAC 40: UP 1.8 percent at 6,410.58 (close)
EURO STOXX 50: UP 2.5 percent at 3,740.31 (close)
Tokyo - Nikkei 225: DOWN 0.3 percent at 26,604.84 (close)
Hong Kong - Hang Seng Index: DOWN 0.3 percent at 20,116.20 (close)
Shanghai - Composite: UP 0.5 percent at 3,123.11 (close)
Euro/dollar: UP at $1.0732 from $1.0681 on Wednesday
Pound/dollar: UP at $1.2607 from $1.2574
Euro/pound: UP at 85.11 pence from 84.95 pence
Dollar/yen: DOWN at 127.05 yen from 127.32 yen
Brent North Sea crude: UP 3.0 percent at $117.40 per barrel
West Texas Intermediate: UP 3.4 percent at $114.09 per barrel
burs-jmb/to
O.Ignatyev--CPN