All three indexes are set up to finish the quarter in positive territory.
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In Friday trading, Dow Jones futures were rising by 0.66%. The S&P 500 added 0.52% and the Nasdaq Composite was up 0.61%.
In Asia on Friday, Shanghai Composite index was 2% higher.
Hong Kong’s Hang Seng index rose 1.5%.
Japan’s Nikkei stock index finished the day up 0.15%, but down 0.95% for the week.
In European trading, London’s FTSE traded up 0.8%, Germany’s DAX jumped 1.1%, France’s CAC gaining 1.3%
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The major U.S. stock market indexes closed higher Thursday after the latest reading on U.S. economic growth.
The Dow Jones Industrial Average climbed 98.46 points to 24,216.05. The S&P 500 rose 16.68 points to 2,716.31. The Nasdaq Composite added 58.6 points to close at 7,503.68.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 24216.05 | +98.46 | +0.41% |
| SP500 | S&P 500 | 2716.31 | +16.68 | +0.62% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7503.6833 | +58.60 | +0.79% |
The U.S. unit of Deutsche Bank, the embattled German bank, failed to pass the second round of the Fed’s annual stress tests, preventing the company from increasing its payout.
The Fed said the other 34 banks submitted acceptable capital return plans. However, Morgan Stanley and Goldman Sachs, which edged out passing grades in the first round of the stress tests last week, won’t be able to boost their dividends or share buybacks.
Traders digested the final read on 1Q Gross Domestic Product, which came in at 2.0% slightly below the 2.2% economists were forecasting.
Other economic data released Thursday included weekly jobless claims. Applications for jobless claims came in above analysts’ expectations, with 227,000 people filing for benefits in the prior week versus the 220,000 Thomson Reuters consensus estimate.
On the Friday calendar, economic reports are due on personal income and spending and consumer sentiment.
FOX Business’ Leia Klingel and Matthew Rocco contributed to this article.
