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Stocks And Futures Advance Following Strong Earnings Reports

U.S. stocks and futures advanced on Thursday following the release of better-than-expected earnings reports from multiple companies. Nasdaq 100 futures gained 1.2%, while those on the S&P 500 and the Dow Jones Industrial Average rose 0.8% and 0.7% respectively.

Walt Disney Co. stocks surged as the company reported better-than-expected financial results, while Robinhood Markets Inc. was also on the rise. Toymaking giant Mattel Inc. faltered after its earnings fell short of estimates.

European markets also advanced, extending gains for a third day as the Stoxx Europe 600 rose 1.1%. Siemens AC and AstraZeneca Plc were among the major winners in Europe, while Credit Suisse Group AG stocks fell as the company revealed that it expects to incur a major loss this year.

Brent crude oil advanced 0.2% to $85.28 per barrel, while spot gold gained 0.3%, moving to $1,881.66 an ounce. While the Bloomberg spot dollar index declined by 0.4%, the euro, Japanese yen, offshore yuan, and British pound all advanced.

Now, investor focus is turning to the Labour Department’s jobless claims report, set to be released on Thursday. The results of this report are expected to give an indication of the direction of the Federal Reserve’s interest rate policy.

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