World Shares, US Futures Advance Ahead of U.S. GDP Report

World shares advanced Thursday ahead of the release of U.S. economic growth data and following a speech by President Joe Biden outlining ambitious plans for beefing up early education and other family oriented policies, the Associated Press reported. London’s FTSE 100 jumped 0.7% to 7,013.40. In Paris, the CAC40 climbed 0.6% to 6,344.17. Germany’s DAX slipped 0.2% to 15,262.39 as a report showed weakening consumer confidence. The future for the Dow industrials rose 0.4% and that for the S&P 500 surged 0.6%. U.S. growth in the January-March quarter could top 5% and accelerate even more to 10% or even more in the current April-June quarter as pent-up demand fuels spending. Bullish expectations for government spending and monetary stimulus lifted most markets. Hong Kong’s Hang Seng rose 0.8% to 29,303.26 and the Shanghai Composite index picked up 0.5% to 3,474.90. Australia’s S&P/ASX 200 added 0.3% to 7,082.30. Markets in Tokyo were closed for a holiday. In Seoul, the Kospi slipped 0.2% to 3,174.07 after Samsung Electronics, South Korea’s biggest company, reported its operating profit jumped 46% in the first quarter from a year earlier driven by increased sales of smartphones and televisions as its business continues to flourish amid the pandemic. But Samsung warned it expects weaker sales of its mobile devices going forward. Read more.