U.S. stocks edged higher after swinging between modest gains and losses as mixed economic and earnings data failed to spark a broad conviction trade. The dollar and bonds rose.
The S&P 500 traded up 0.3% in thin trading. Light trading typified the Nasdaq 100, which was 0.5% higher after falling 0.5%. U.S. jobless claims fell for the first time in three weeks, weekly job data showed. Elsewhere, oil rose for the second day as stockpile report eased fears of a slowdown. Gold remained unchanged and Bitcoin hovered around $23,000.
Back home, Indian stock benchmarks edged higher with Nifty extending its winning streak for eighth day, longest in 21 months, aided by gains in banking, capital goods, realty, telecom, power, and utilities stocks. The Sensex and Nifty swung between gains and losses for the bulk of the session before closing near day’s high.
The local currency depreciated 26 paise against the U.S. dollar on Thursday.