Wall Street rebounds from Trump-induced sell-off; dollar rises

Wall Street rebounded on Thursday from its biggest sell-off in more than eight months, helped by strong US economic data, but uncertainty over US President Donald Trump's agenda kept an index of global equity markets near a three-week low.

MSCI's all-country world equity index was down 0.31 percent after dipping to its lowest since April 25 earlier in the day.

The index found some support on Wall Street. US stocks recovered ground after a near 2 percent sell-off on Wednesday for the S&P 500, as upbeat economic data emboldened investors to return to the market.

The Dow Jones Industrial Average rose 56.09 points, or 0.27 percent, to end at 20,663.02, the S&P 500 gained 8.69 points, or 0.37 percent, to finish at 2,365.72 and the Nasdaq Composite added 43.89 points, or 0.73 percent, to close at 6,055.13.

The pan-European FTSEurofirst 300 index closed down 0.89 percent at 7,436.42, ending off lows.

The dollar index was up 0.27 percent, with the euro down 0.45 percent to USD 1.1108.

Oil prices settled higher as key producing countries suggested they would extend supply cuts to reduce an ongoing global crude glut.

Benchmark Brent crude futures ended the session 30 cents higher at USD 52.51 a barrel while US crude futures settled up 28 cents at USD 49.35.

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