Stocks on both sides of the Atlantic moved higher overnight amid fresh reports suggesting the US Federal Reserve won't be in a rush to raise interest rates soon.
In late trading in New York, the Dow Jones Industrial Average advanced 0.38 percent, the Standard & Poor's 500 Index rose 0.41 percent, while the Nasdaq Composite Index added 0.45 percent.
The recent trend of data offering a mixed picture of the US economic recovery continued. Separate reports showed manufacturing grew more than expected in May, while construction spending also increased more than predicted in April. However, consumer spending was unexpectedly flat in April.
"The construction and manufacturing data cast a bit of sunshine on an otherwise cloudy day for economic data. We need to see more of a rebound in growth before the Fed pulls the trigger on interest rates," Diane Swonk, chief economist at Mesirow Financial in Chicago, told Reuters.
Indeed, Boston Fed Reserve Bank President Eric Rosengren called for "continued patience in monetary policy."