NEW YORK, New York - U.S. stocks surged on Thursday, with Wall Street's major indexes climbing nearly 1 percent as investor optimism returned amid easing economic concerns. Both the Standard and Poor's 500 and Nasdaq Composite were closing in on record highs as the markets closed.

U.S. Market Highlights

• Standard and Poor's 500 (^GSPC): Gained 48.86 points, or 0.80 percent, closing at 6,141.02 in broad-based buying.

• Dow Jones Industrial Average (^DJI): Jumped 404.41 points, or 0.94 percent, finishing at 43,386.84, led by strength in industrial and financial stocks.

• NASDAQ Composite (^IXIC): Outperformed with a 194.36 point advance, or 0.97 percent, ending at 20,167.91 as tech stocks rebounded.

Outlook

Analysts suggest the bullish momentum could extend into Friday if economic data remains favorable. However, traders remain cautious ahead of next week's Federal Reserve commentary. In the meantime, investors and traders await the Personal Consumption Expenditures (PCE) report due out Friday. The report will be the first inkling as to whether the trade tariffs by President Trump have pushed inflation higher.

U.S. Dollar Slumps Further on Global Forex Markets Thursday, Euro and Pound trade at Lofty Heights

The foreign exchange market saw another selling blitz on the U.S. dollar on Thursday, with the greenback weakening across the board. The pound soared to a more than 3 year high, adding to its near 10 percent gain this year alone.

Key Currency Pairs

• EUR/USD (Euro / US Dollar): The euro strengthened to 1.1709, rising 0.44 percent as the dollar softened amid shifting risk sentiment.

• USD/JPY (US Dollar / Japanese Yen): The dollar fell to 144.36, declining 0.55 percent as the yen found support amid cautious market conditions.

• USD/CAD (US Dollar / Canadian Dollar): The greenback dropped to 1.3638, down 0.62 percent, as rising oil prices bolstered the Canadian dollar.

• GBP/USD (British Pound / US Dollar): Sterling climbed to 1.3733, gaining 0.53 percent, despite the UK economic outlook. Sterling is now trading at more than 3-year highs, having added nearly 10 percent since January.

• USD/CHF (US Dollar / Swiss Franc): The dollar weakened to 0.7996, slipping 0.57 percent, as the Swiss franc benefited from safe-haven demand.

• AUD/USD (Australian Dollar / US Dollar): The Aussie dollar rose to 0.6549, up 0.58 percent, lifted by commodity price strength.

• NZD/USD (New Zealand Dollar / US Dollar): The Kiwi dollar advanced to 0.6061, increasing 0.45 percent, supported by risk-on flows.

Global Equity Markets Show Mixed Performance on Thursday

Global stock indices delivered a mixed performance on Thursday, with some markets posting gains while others edged lower amid fluctuating investor sentiment.

Canada

• S&P/TSX Composite (^GSPTSE): Rose 185.63 points, or 0.70 percent, settling at 26,751.95, supported by gains in energy and materials sectors.

UK and Europe

In London, the FTSE 100 rose to 8,735.60, climbing 16.85 points, or 0.19 percent.

Germany's DAX surged 150.97 points, or 0.64 percent, closing at 23,649.30.

In France the CAC 40 dipped slightly, losing 0.85 points, or 0.01 percent, to settle at 7,557.31.

The broader EURO STOXX 50 slipped 7.98 points, or 0.15 percent, ending at 5,244.03. while Belgium's BEL 20 gained 13.78 points, or 0.31 percent, finishing at 4,470.90.

Asia and Pacific

Japan'sNikkei 225rallied642.51points, or1.65 percent, to39,584.58, while in China, theShanghai Compositedipped7.52points, or0.22 percent, to3,448.45.

In Hong Kong' the Hang Seng Index dropped 149.27 points, or 0.61 percent, closing at 24,325.40.

Singapore's STI Index rose 12.48 points, or 0.32 percent, to 3,938.46.

In Australia' the S&P/ASX 200 fell 8.40 points, or 0.10 percent, to 8,550.80, while the All Ordinaries slipped 6.30 points, or 0.07 percent, to 8,773.60.

India's BSE Sensex was a standout performer, jumping 1,000.36 points, or 1.21 percent, to 83,755.87. 

I Indonesia the IDX Composite gained 65.26 points, or 0.96 percent, reaching 6,897.40, and Malaysia's KLSE added 8.37 points, or 0.55 percent, closing at 1,528.16.

In New Zealand the NZX 50 rose 19.09 points, or 0.15 percent, to 12,480.05.

South Korea's KOSPI declined 28.69 points, or 0.92 percent, to 3,079.56, while Taiwan's TWSE edged up 61.73 points, or 0.28 percent, to 22,492.34.

Middle East & Africa

Israel's TA 125 fell 21.07 points, or 0.71 percent, to 2,952.41.

In Egypt the EGX 30 surged 404.30 points, or 1.24 percent, to 33,002.80.

South Africa's JSE Top 40 (^JN0U.JO) climbed 40.36 points, or 0.76 percent, closing at 5,346.53.

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