European markets

Bank of England governor Mark Carney said the central bank would probably need to boost stimulus for Britain's economy in the months ahead.

That announcement put further pressure on the pound, sending it down 1.4 per cent to $US1.32.

The European Central Bank said it may need to expand the scope of its bond purchasing program in order to provide extra stimulus within the eurozone.

By the close, the Dow Jones Industrial Average gained 1.3 per cent to 17,929.

Nike surged 7 percent early Friday, the most in the Standard & Poor's 500, after its results easily beat analysts' estimates.

The Dow Jones industrial average climbed 174 points, or 1.1 percent, to 16,376 as of 9:35 a.m. Eastern time Friday.

The S&P 500 rose 14 points, or 0.7 percent, to 1,946. The Nasdaq composite increased 34 points, or 0.7 percent, to 4,769.

KEEPING SCORE: In Europe, France's CAC-40 climbed 0.5 percent to 4,545 while Germany's DAX rose 0.6 percent to 10,102. The FTSE 100 index of leading British shares was 0.5 percent higher at 6,073. Wall Street is closed Monday for the Labor Day holiday.

The Dow Jones industrial average increased 68 points, or 0.4 percent, to 16,425 as of 9:35 a.m. Eastern time Thursday.

The Standard & Poor's 500 index climbed nine points, or half a percent, to 1,959. The Nasdaq composite gained 18 points, or 0.4 percent, to 4,769.

China's markets were closed for a holiday, giving investors some temporary relief from following recent sharp swings there.

Monday the 24^th of August, 2015 has been the worst day for European markets since 2008 with the FTSE shedding 74 billion pounds and the Dow Jones falling 1,000 points.

The world’s  second most profitable listed company, Apple saw its share price fall 13% before regaining ground.

Many attribute this slump to the weakness of the Chinese stock market. There are those who point to a blip caused by the summer season, which sees many risk takers on vacation.