US stocks have managed solid gains despite a three-hour shutdown of the Nasdaq market that disrupted trade on other exchanges as well.
Nasdaq blamed technical problems in its computers for the shutdown, which came after midday on Thursday and lasted until trade resumed around 3.25pm (0525 AEST Friday), giving investors 35 minutes to clear their books.
At the finish the Dow Jones Industrial Average was up 66.19 points (0.44 per cent) at 14,963.74.
The broad-based S&P 500 added 14.16 (0.86 per cent) at 1,656.96, while the Nasdaq Composite jumped 38.92 (1.08 per cent) to 3,631.78.
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“The upturn is being led by Germany, where growth accelerated again in August, driven in turn by rising domestic and export demand,” said Markit chief economist Chris Williamson.
“So far, the third quarter is shaping up to be the best … since the spring of 2011,” Williamson said, cautioning that the bloc was not yet entirely in the clear.
And HSBC’s PMI for China’s manufacturing sector jumped to 50.1 in August, up from July’s 11-month low of 47.7.
The Nasdaq shutdown was disruptive, but the market allowed traders to cancel orders and key stocks and options contracts could be traded on other boards.
But it struck a blow to the market still getting over its mishandling of last year’s disastrous Facebook IPO and, more recently, the lost of the listing of Oracle shares to the New York Stock Exchange.
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