ALSO READGlobal stocks drop, yen rises as Trump proposes more China tariffs U.S. oil extends decline, weighed down by dollar, rising output Global Markets: Stocks, dollar rise as risk appetite returns; oil slips Asian shares slide as weak China, Japan manufacturing data add to Fed worries Oil edges up from two-week lows but gains limited
By Rodrigo Campos
NEW YORK (Reuters) - Wall Street led stocks higher globally on Thursday, more than offsetting declines in Asia, as an expected strong earnings season took front seat after U.S. President Donald Trump cast doubt over the timing of his threatened strike on Syria.
The risk of clashes between Western powers and Russia in Syria over an alleged chemical attack eased somewhat as Trump reworded his Wednesday threat that missiles "will be coming" while taunting Russia for supporting Syrian President Bashar al-Assad.
Trump wrote on Thursday that an attack on Syria "could be very soon or not so soon at all."
"Investors are looking for earnings to be the market's saviour and to help reduce some of this volatility that we've seen," said Michael Arone, chief investment strategist at State Street Global Advisors in Boston.
The Dow Jones Industrial Average <.DJI> rose 311.24 points, or 1.29 percent, to 24,500.69, the S&P 500 <.SPX> gained 23.08 points, or 0.87 percent, to 2,665.27 and the Nasdaq Composite <.IXIC> added 70.29 points, or 0.99 percent, to 7,139.32.
The pan-European FTSEurofirst 300 index <.FTEU3> rose 0.67 percent and MSCI's gauge of stocks across the globe <.MIWD00000PUS> gained 0.40 percent.
"It doesn't move it to the back-burner, but it allows you to look around and trade other things and that gives room for rates to rise just a little bit from their sort of cramped or compressed levels," he said.
Benchmark 10-year Treasury notes
The 30-year bond
"We have seen an accelerated shrinkage of stocks in storage from unparalleled highs of about 400 million barrels to about 43 million above the five-year average," Barkindo said.
Both are at levels not seen since 2014.
The dollar index <.DXY> was on track to snap a four-day losing streak as it rose 0.2 percent, with the euro
"It's a reversal of the safe-haven trade that lifted the yen and the Swiss franc earlier in the week," said Karl Schamotta, director of global product and market strategy at Cambridge Global Payments in Toronto.
The Japanese yen weakened 0.37 percent versus the greenback at 107.20 per dollar, while the dollar was up 0.46 percent against the Swiss franc