U.S. and European stocks moved higher Thursday after a U.S. report showed that its economy expanded more than first estimated in the second quarter this year and jobless benefit claims declined last week.

In early trading, the Dow Jones Industrial Average of 30 key stocks is up 2.1 percent, while the broader S&P 500 index is ahead 2 percent. The technology-laden NASDAQ is up 1.8 percent.

In afternoon trading in Europe, London's Financial Times index is ahead four-tenths of one percent. The CAC-40 in Paris is up 1.8 percent, while the DAX index in Frankfurt is ahead 1.6 percent.

In Asia, Tokyo's Nikkei index rose one percent to finish at 8,701.

Hong Kong's Hang Seng index was closed due to the threat posed by Typhoon Nesat.

Gold is trading up $9.16 at $1,618.32 an ounce.

The dollar is trading up against the yen, but down against the euro.