US stocks higher at mid-session
TSX adds 25pts
Chevron; Exxon higher
London shares close higher
US shares lost some of the early shine but still closed higher on Thursday.
Energy and financial stocks did well.
The Dow Jones added over 55 points at 24,782, the S&P 500 added 5.32 at 2,684.
The tech heavy Nasdaq index added 4.40 to stand at 6,965.
In Toronto, the TSX added over 25 points, to stand at 16,185.
US crude , West Texas Intermediate - was up 0.24% to US$58.23 a barrel.
Energy titan Hess Corp (NYSE: HES) added 5.34% to US$46.34, while Exxon Mobil Corp (NYSE:XOM) gained 1,18% to US$83.85 and Chevron Corp (NYSE:CVX) added 3.25% to US$124.82.
MID-SESSION
Wall Street shares are higher at mid-session after London stocks earlier closed higher, as global markets were boosted by the US tax bill's progress.
The Dow Jones added over 109 at 24,836.
The broader based S&P 500 is up 12.20 at 2,691, while the Nasdaq is almost 29 ahead at 6,989.
In Toronto, the TSX is up over 11 points, having been negative eralier, at 16,177.
OPEN
US stocks have opened higher top trade near record levels as traders continue to digest the approval of the tax bill by the House of Representatives.
The Dow Jones Industrial Average rose almost 75 points to 24,799, the S&P 500 increased 5.92points to 2,685 and the Nasdaq Composite Index added 12.34 points to 6,972.
In Toronto, the TSX is down nearly 41 points at 16,118.
Also, in data, new figures showed the US economy grew at a solid 3.2% annual rate from July through September, slightly slower than previously estimated.
The figure was revised down from last month's estimate of 3.3%, the Commerce Department reported Thursday.
Donald Trump’s sweeping overhaul of US tax legislation will mean tax cuts for companies and individuals, providing a boost to stocks.
Meanwhile, the third quarter estimate of US GDP was unexpectedly revised lower but the economy grew at the fastest pace since the first quarter of 2015.
US jobless claims rose more than forecast but the underlying trend remained consistent with a tightening labour market.
In equities, Accenture Plc (NYSE:ACN) shares gained 3.7% to US$157.41 after the consultancy group revealed better than expected financials for the first quarter.
The company reported US$1.17bn of first quarter net income (which is US$1.79 per share) up from US$1.05bn (US$1.58 per share) in the comparative period of last year and it was ahead of market expectations for US$1.67 per share.
First quarter total revenue amounted to US$10.05bn, up from US$9.01bn, and ahead of market expectations for US$9.63bn.