Global Stocks

European stock markets posted broad-based gains on Thursday, joining a global rally that has taken Japan's benchmark index to a 26-year high and sent all three major U.S. indexes to fresh records. Major energy companies helped to propel equity markets higher in Europe as oil prices hit a three-year high, while car maker shares jumped after better-than-expected U.S. auto sales data.

The global stock rally continued in Asia early Friday, with numerous markets hitting fresh multiyear highs - though gains show signs of cooling. Japan's Nikkei Stock Average NIK, +0.66% , which rose as much as 0.7% early to notch another 26-year best after Thursday's pop, finished morning trading up 0.2%.

U.S. stock-market indexes closed at all-time highs on Thursday, while the Dow topped the 25,000 milestone for the first time. All four benchmarks set intraday records, rising for the third straight session. The S&P closed at a record in each of the first three trading days of the new year, the first time it has done so since 1964, according to The Wall Street Journal Market Data Group. The Nasdaq did the same, for the first time since 1999.