The U.S. stock index and oil prices posted gains as investors celebrated positive economic data and statements from the White House regarding renegotiations on President Joe Biden’s social spending bill.
The market opened slightly flat but continued to post gains throughout the session due to gains in consumer confidence data and positive gross domestic product growth.
In addition, the White House said it would hold re -talks with Senator Joe Manchin, a key individual who expressed his disapproval in approving the US president's social spending bill.
Meanwhile, risky currencies such as the Australian dollar recovered against the US dollar while the US treasury dismissed the threat of long -term inflation when the yield curve flattened.
The Dow Jones Industrial average index rose 0.49% at 35,668.3 while the S&P 500 hit 0.63% at 4,678.65% and the Nasdaq Composite added 0.66% at 15,441.98.
MSCI's worldwide share benchmark rose 0.73%.
Ahead of the Christmas holidays, trading slowed as currency market movements were generally weak with the dollar index falling 0.361%.
Oil prices continued to gain ground as concerns over tight supply and production in the US offset concerns about sluggish demand saw US crude rose 2.49% at $ 72.89 a barrel and Brent oil added 1.95% at $ 75.42.
Bitcoin rose 0.07% at $ 48,963.06.
