U.S. stocks closed higher on Thursday as investors turned back an early sell-off, thanks to a rebound in oil prices. Yesterday, the Dow Jones industrial average ended the session 16 points to 9,542 – its eighth straight session of gains, led by Boeing Co. Yesterday, the Nasdaq Composite Index finished 2 points ahead at 1639 and the S&P 500 also ended 2 points higher. Dell surged after it posted sales and earnings that beat expectations just before the close. But financial stocks provided the catalyst for the market. In equities, Asian stocks are trading mixed, with most technology names being supported by better than expected earnings from US computer maker Dell. The best performing sectors on the Nikkei include technology companies and financials, while the worst performing sector is telecommunications

U.S. second quarter’s Gross Domestic Product was left unrevised at -1%, better than expected, and showing a substantial improvement after the -6.4% posted in the first quarter. On the negative side fears about China adopting tighter economic measures to prevent its economy from overheating after huge economic stimulus, have arisen concern among investors. Recovery in the Japanese economy is fragile as today we witnessed reports showing more deterioration. Unemployment in Japan inclined exceeding forecasts along with falling household spending that accounts for half of the economy, while consumer prices are still declining indicating deflation risks.

Due for release today there are the GBP GDP, GBP Private Consumption, GBP Government Spending, GBP Exports, Euro-zone Consumer Confidence, USD Personla Income, USD Michigan Confidence.