By Riva Gold

European stocks rose early Thursday after major U.S. indexes closed at record highs.

The Stoxx Europe 600 was up 0.4% shortly after markets opened, with all but the utility sector trading in positive territory.

Both the Dow Jones Industrial Average and the S&P 500 had notched fresh records on Wednesday, led by gains in industrial and financial companies. U.S. markets are closed Thursday for the Thanksgiving holiday and are due to reopen on Friday.

Meanwhile, a dollar rally intensified with the WSJ Dollar Index last up 0.4% after climbing to a 14-year high on Wednesday.

The latest leg higher for the greenback followed strong U.S. economic data, a weaker Chinese yuan and fresh hints the Federal Reserve would likely raise interest rates in December. Fed officials said a raise rise was possible "relatively soon" if incoming data continued to show an improving economy, minutes from the bank's November meeting showed.

Earlier, markets in Asia mostly moved lower amid concerns that higher U.S. interest rates and a stronger dollar could hurt emerging markets.

Japan's Nikkei Stock Average advanced 0.9%, however, as a weaker yen boosted shares of exporters. The dollar was last up 0.8% against the yen at Yen113.4660.

In bond markets, the yield on 10-year German government bonds fell to 0.241% from 0.277% on Wednesday. Yields move inversely to prices.

Write to Riva Gold at riva.gold@wsj.com

(END) Dow Jones Newswires

November 24, 2016 03:52 ET (08:52 GMT)

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