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U.S. markets rose sharply Thursday, extending a rally into the second day of the second quarter, although initial jobless claims rose.
The Labor Department said first time unemployment claims rose by 12,000 in the week ending March 28 to 669,000 claims.
The European Central Bank said it would cut its key interest rates a quarter of a percentage point to 1.25 percent, prompting the euro to gain strength against the dollar.
In early afternoon trading, the Dow Jones industrial average gained 263.64 points, or 3.4 percent, to 8,025.24. The Standard & Poor's 500 rose 3.34 percent, 27.09 points, to 838.17. The Nasdaq composite index added 55.66 points, 3.59 percent, to 1,607.26.
The benchmark 10-year U.S. Treasury bond fell 24/32 to yield 2.737 percent.
The euro rose to $1.3452, compared to Wednesday's $1.3232. Against the Japanese yen, the dollar rose to 99.42 yen, compared to Wednesday's 98.67 yen.
In Tokyo, the Nikkei average gained 367.87 points to 8,719.78, up 4.4 percent.
In London, the FTSE 100 index rose 4.28 percent, 169.36 points, to 4,124.97.
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