Palladium futures rose on Thursday, buoyed by high market's sentiment and widespread optimism about a thaw in the coronavirus health crisis.

Major factories and companies, especially automakers, revealed that most of their Chinese factories are gradually resuming business in markets amid news of a slowdown in the coronavirus spread.

The Chinese health authorities revealed today that coronavirus has infected 75,000 cases, and its death toll rose to 2,000 victims, but infected cases of the coronavirus have slowed.

With automakers resuming work, demand on palladium increased, as the metal is heavily used in the manufacturing of car components to reduce pollutant emissions.

Major automakers such as general Motors, Fiat Chrysler and Toyota Motor have announced that most of their Chinese factories are working normally again.

Palladium March futures rose 1% to trade at $2,595.8 an ounce as of 14:35 GMT, after hitting a high of $2,6742 and a low of $2,561.1.

The major US stock indices held steadily on Thursday, as global markets focused on the latest developments of the coronavirus health crisis and its economic impact.

The minutes of the latest Federal Reserve's meeting in January showed yesterday that the FOMC members were confident in the US economic growth rate, as they prefer to hold rates for a prolonged period of time.

However, the Fed warned of the short-term risk and the economic impact of the coronavirus outbreak on global markets.

Data showed today that the jobless claims in the US rose by 4,000, to 210,000 during the past week.

The Chinese health authorities revealed today that coronavirus has infected 74,000 cases, and its death toll rose to 2,160 victims.

As for stocks, Dow Jones rose 0.1% or 5 points to 29,353 at 15:19 GMT, and S&P 500 rose 0.1% or 2 points to 3,388, while Nasdaq lost 0.1% or 6 points to 9,811.

European stocks fell on Thursday, to pull back from all-time highs on profit-taking, amid a risk-off move due to disappointing corporate business reports for the fourth quarter of 2019.

The Stoxx Europe 600 index was lower by 0.3% at 11:25 GMT, after it closed higher by 0.8% and hit its all-time high of 433.20 points, following news about a slowdown in coronavirus infections in China.

The index opened today's session lower, to pull back from all-time highs on profit-taking, with most of the major European exchanges and sectors falling today.

The insurance sector saw the largest losses in Europe today, dropping more than 1.2%, as most of the sector's shares fell.

The Swedish company Elekta shares shed more than 10%, after the medical devices manufacturer revealed lower than expected earning in Q4 2019, as orders from the US fell.

Telefonica stocks also lost 4.5%, as the company reported net loss during Q4 2019, and Swiss Re stocks lost more than 4% after reporting less than expected earnings in 2019.

S&P 500 futures fell 0.2% today, after the index closed higher by 0.5% yesterday at Wall Street, and reached its all time high of 3,393.52 points.

Back to Europe, the Euro Stoxx 50 index lost 0.3%, France's CAC 40 fell by 0.2%, and the German DAX lost 0.1%, to pullback from its all-time high of 13,795.24 points.

While the UK's FTSE 100 rose by 0.1%., as the British pound fell to its 3-month low against the US dollar, which comes in favour of exports companies.

Asian stocks opened mostly higher after the People's Bank of China cut year-long borrowing rates by 10 basis points, and five-year borrowing rates by 5 basis points as expected to prop up the market amid coronavirus concerns. 

Earlier Australian data showed unemployment up to 5.3% from 5.1%, missing estimates of 5.2%. 

Last Monday, the People's Bank of China also cut medium-term debt rates to 3.15% from 3.25% amid an all out assault to stave off the coronavirus impact. 

Japan's TOPEX rose 0.65%, while Nikkei 225 added 0.88% to 23,607. 

China's CSI 300 rose 0.66%, while Shanghai added 0.22% to 2,982. 

Hong Kong's Hang Seng shed 0.58%, while South Korea's KOSPI dropped 0.76% to 2,193. 

New Zealand's NZX 50 rose 0.54%, while Australia's S&P/ASX 200 climbed 0.51% to 7,181.