Wall Street held on to recent gains as data showing China's inflation and industrial production growth cooled in July fanned hopes that the central bank of the world's second-largest economy will act to accelerate the pace of expansion.
In late afternoon trading in New York, the Dow Jones Industrial Average was steady at 13,175.09, the Standard & Poor's 500 Index squeezed out a 0.07 per cent gain and the Nasdaq Composite Index rose 0.20 per cent.
In Europe, the Stoxx 600 Index the day with a 0.4 per cent advance on the previous close.
"The markets have run up quite a bit for quite a while ... and the story is always the same - the hope for stimulus from the ECB, from the Federal Reserve, from the Chinese - from everywhere," Philippe Gijsels, head of research at BNP Paribas Fortis Global Markets, told Reuters.
"From now until the end of August, I'm not saying every day should be up, but normally I think we're going to have a firmer tone for the market."