GLOBAL MARKETS-Stocks move higher on economic outlook, US$ cautious

MSCI's world stock index, which measures equity performance in 50 countries, closed up 0.28% at 745.72. In Europe, the broad STOXX 600 index gained 0.31%. On Wall Street, the Dow Jones Industrial Average rose 0.37%, the S&P 500 added 0.28% and the Nasdaq Composite advanced 0.14%.

NEW YORK/LONDON: Record-setting world stocks moved higher on Thursday after jobless claims data suggested the U.S. labor market was charging ahead even as new COVID-19 infections surge, while the risk of a upcoming sub-par U.S. payrolls report weighed on the dollar.

Economic data from Asia and Europe was largely disappointing but the Labor Department report showed the number of Americans filing new claims for jobless benefits fell last week to a pandemic-era low.