U.S. stocks closed solidly higher on Thursday, with equities advancing in a broad rally that gave the Dow Jones Industrial Average its longest winning streak since February. The technology sector lead the day’s gains, extending this month’s trend, but the broad rally was also supported by the latest economic date which suggested that the economy was growing at a healthy pace. The Dow Jones Industrial Average rose 196.99 points, or 0.8%, to 24,739.53, the S&P 500 gained 25.28 points, or 0.9% to 2,723.07, whilst the Nasdaq Composite Index advanced by 65.07 points, or 0.9% to 7,404.97.

Meanwhile, European stocks broke a four-day winning run on Thursday, with Italian shares dragging the benchmark index lower as euroskeptic parties moved closer to form a coalition government and Ascension Day leaving markets closed in several countries including Switzerland, Austria, the Nordics and Greece. The Stoxx Europe 600 index fell 0.1% to 391.97, after closing at its highest level since Feb. 1 on Wednesday. Germany’s DAX 30 index picked up 0.6% to 13,022.87, while France’s CAC 40 added 0.2% to 5,545.95. The U.K.’s FTSE 100 index climbed 0.5% at 7,700.97, ending at its highest level since Jan. 23.

Historic summit between Trump and Kim Jong Un

The U.S. has zeroed in on Singapore as the venue for a historic summit between President Donald Trump and North Korean leader Kim Jong Un, after the return of three U.S. citizens detained in the isolated country removed an obstacle to talks. In March, Trump stunned the world by accepting an invitation to meet Kim Jong Un for an unprecedented sit-down. Their release came during a visit to Pyongyang by Secretary of State Mike Pompeo to arrange details of the meeting between Mr Trump and Mr Kim.

The key issue expected to be discussed is North Korea's nuclear weapons programme – over which the two leaders furiously sparred in 2017 as the US wants Pyongyang to give up its weapons programme completely and irreversibly. There has been no word from Pyongyang on what it might specifically offer at the summit, but key issues for the North will be the presence of 30,000 US military personnel in South Korea, and the lifting of sanctions that are choking the economy.

Geely/Volvo potential IPO

China’s Zhejiang Geely Holding Group, the regional owner of Volvo Cars has hired three investment banks for an initial public offering (IPO) this year that could value the Swedish carmaker at between $16-$30 billion, a person familiar with the matter has stated. The company, which bought Volvo Cars in 2010 for the Chinese market, has picked Citigroup, Goldman Sachs and Morgan Stanley for the listing.

Geely said in a statement on Friday that the firm was “looking at the possibilities” when asked about the dual listing plans for Volvo Cars. “We haven’t made a final decision on how to proceed as of yet.” Volvo Cars had revenues of 210.9 billion crowns ($24.4 billion) in 2017 with an operating profit of 14.1 billion crowns.