US stocks climbed on Thursday even as European shares hit a three-month low, with investors weighing the latest data on how coronavirus is affecting different regions of the global economy.
The tech-heavy Nasdaq Composite index fell as much as 1 per cent after the opening bell on Wall Street before recovering to end the day 0.4 per cent higher. The large-cap S&P 500 also reversed early losses to trade 0.3 per cent higher. Shares in Microsoft gained 1.4 per cent while Apple stock closed the day 1 per cent higher.
US stocks received a boost after Nancy Pelosi, the Democratic speaker of the House of Representatives, said she was “ready for negotiation” on a new coronavirus relief plan. Congressional leaders and the White House have so far failed to agree more fiscal stimulus for the US economy, and talks stalled several weeks ago.