Shares of Deutsche Bank rose nearly 0.5 per cent, after Swiss investment bank UBS upgraded the German bank from "sell" to "neutral," saying the latter's restructuring plan would be backed by home regulator, which led to a more "balanced risk/reward" scenario.
Eight of the 11 primary Siamp;P 500 sectors traded higher around midday, with the industrials sector up over 1 per cent, leading the gainers.
During his second day of testimony on Thursday, Fed chair Jerome Powell reiterated that the central bank will always do "what's right for the US economy" and called for the Congress to raise debt limit in a timely manner.
The Dow broke through the level of 27,000 points for the first time ever on Thursday. Meanwhile the Siamp;P 500 also hit a record close of over 2,999 points.