US stocks close higher, supported by tech sector

US equities ended higher on Thursday, boosted by strong performance in the technology sector, while investors looked ahead to next week’s meeting between the US and Chinese presidents.

The Dow Jones Industrial Average rose 0.31% (144 points) to close at 46,734 points.

The S&P 500 gained 0.58% (39 points) to 6,738 points, remaining above its 50-day moving average for 122 consecutive sessions — the longest streak since March 2011.

The Nasdaq Composite added 0.89% (201 points) to 22,941 points, extending its year-to-date gains to 18.8%.

Wall Street was supported by a positive tech performance, as the Roundhill Magnificent Seven ETF, which tracks the Magnificent Seven tech stocks, climbed 0.72% to $65.33.

However, the sector faced some pressure after Netflix and Texas Instruments reported weaker-than-expected earnings, sending their shares down 10% and 5.6%, respectively.

In Europe, the Stoxx Europe 600 rose 0.35% to close at a record high of 574.43 points, led by a 2.7% increase in the oil and gas sector.

Germany’s DAX gained 0.25% to 24,207 points, France’s CAC 40 climbed 0.25% to 8,225 points, and the UK’s FTSE 100 advanced 0.65% to 9,578 points.

In contrast, Japan’s Nikkei 225 fell 1.35% to 48,641 points, while the broader Topix index slipped 0.40% to 3,253 points.

In commodities markets, Brent crude (December delivery) rose 5.43% ($3.40) to $65.99 per barrel, while WTI crude gained 5.62% ($3.29) to $61.79 per barrel.

Gold (December delivery) increased 2% ($80.2) to $4,145.60 per ounce.

The White House announced that US President Donald Trump will meet Chinese President Xi Jinping next Thursday in South Korea, on the sidelines of the APEC Summit.