Investing.com - U.S. stock prices closed the week higher after solid U.S. and Chinese trade data and a E.U. decision to cap spending fueled appetite for stocks and other risk-on assets.
At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.35%, the S&P 500 index was up 0.57%, while the Nasdaq Composite index rose 0.91%.
Solid U.S. and Chinese trade figures fueled hopes the global economy may be on the mend, which bolstered equities.
The U.S. Commerce Department reported earlier that U.S. trade deficit in December narrowed to USD38.5 billion from a USD48.6 billion deficit in November.
Analysts were expecting the trade deficit to only narrow to USD46 billion.
Meanwhile in Asia, the Chinese trade surplus fell in January from December thanks to a surge in imports, fueling more talk of an improving global economy.
The country's trade surplus hit USD29.20 billion last month, down from a USD31.60 billion surplus reported in December.
Analysts were expecting a USD22 billion surplus.
Elsewhere in Europe, E.U. leaders agreed on common budget cuts, the first ever.
The agreement should set a 2014-2020 spending ceiling of EUR960 billion, down from an original proposal of EUR1.047 trillion and less than the EUR994 billion spent in the current budget cycle.
European growth concerns capped gains, however.
European Central Bank President Draghi warned that economic weakness would stick around during the early part of 2013 and added recovery would kick in later in the year, which weighed on the euro against the dollar.
Leading Dow Jones Industrial Average performers included Hewlett-Packard, up 2.55%, UnitedHealth Group, up 1.19%, and Home Depot, up 1.06%.
The Dow Jones Industrial Average's worst performers included Boeing, down 1.12%, Bank of America, also down 0.76%, and Procter & Gamble, down 0.59%.
European indices, meanwhile, finished higher.
After the close of European trade, the EURO STOXX 50 rose 1.25%, France's CAC 40 rose 1.35%, while Germany's DAX 30 finished up 0.81%. Meanwhile, in the U.K. the FTSE 100 finished up 0.57%.
At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.35%, the S&P 500 index was up 0.57%, while the Nasdaq Composite index rose 0.91%.
Solid U.S. and Chinese trade figures fueled hopes the global economy may be on the mend, which bolstered equities.
The U.S. Commerce Department reported earlier that U.S. trade deficit in December narrowed to USD38.5 billion from a USD48.6 billion deficit in November.
Analysts were expecting the trade deficit to only narrow to USD46 billion.
Meanwhile in Asia, the Chinese trade surplus fell in January from December thanks to a surge in imports, fueling more talk of an improving global economy.
The country's trade surplus hit USD29.20 billion last month, down from a USD31.60 billion surplus reported in December.
Analysts were expecting a USD22 billion surplus.
Elsewhere in Europe, E.U. leaders agreed on common budget cuts, the first ever.
The agreement should set a 2014-2020 spending ceiling of EUR960 billion, down from an original proposal of EUR1.047 trillion and less than the EUR994 billion spent in the current budget cycle.
European growth concerns capped gains, however.
European Central Bank President Draghi warned that economic weakness would stick around during the early part of 2013 and added recovery would kick in later in the year, which weighed on the euro against the dollar.
Leading Dow Jones Industrial Average performers included Hewlett-Packard, up 2.55%, UnitedHealth Group, up 1.19%, and Home Depot, up 1.06%.
The Dow Jones Industrial Average's worst performers included Boeing, down 1.12%, Bank of America, also down 0.76%, and Procter & Gamble, down 0.59%.
European indices, meanwhile, finished higher.
After the close of European trade, the EURO STOXX 50 rose 1.25%, France's CAC 40 rose 1.35%, while Germany's DAX 30 finished up 0.81%. Meanwhile, in the U.K. the FTSE 100 finished up 0.57%.