(MENAFN- AFP) US stocks extended their rally Thursday with modest opening gains after the China-driven sell-off at the beginning of the week.
Investors could take a break from worries over the China economy as markets there were shut for two days for a holiday to mark World War II Victory Day.
But there was also support from news that the European Central Bank was prepared to expand its quantitative easing operations to address slowing inflation and growth in the eurozone.
About thirty minutes into trade, the Dow Jones Industrial Average was up 102.42 points (0.63 percent) at 16,453.80.
The broader S&P 500 gained 14.35 (0.74 percent) at 1,963.21, while the Nasdaq Composite added 20.77 (0.44 percent) at 4,770.75.
Shares rallied solidly Wednesday, with a surge in buying in the final half-hour, despite growing evidence that China's slowdown will spill over to other emerging economies and global growth more broadly.
Patrick O'Hare of Briefing.com said it appeared that traders were emboldened "by the understanding that China's stock market was going to be closed today for a holiday, thereby taking it out of the mix as a potential source of global upset."
Twitter shares continued to rebound as the company narrows its search for a new chief executive it hopes will better monetize the popular micro-blogging service. Shares rose 3.0 percent.
Nearly all the Dow blue chips were higher, led by Verizon (+1.5 percent) and McDonald's (+1.3 percent).
But Caterpillar was a big loser, down 2.5 percent as the ongoing fall in commodity prices threatens more sales to mining operations worldwide.
Bond prices rose. The yield on the 10-year US Treasury fell to 2.17 percent from 2.19 percent Wednesday, while the 30-year slipped to 2.95 percent from 2.97 percent. Bond prices and yields move inversely.
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