US technology stocks recover after early stumble

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.

US home sales reached an annualised rate

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