Asia-Pacific markets set to open higher, tracking Wall Street gains

Asia-Pacific markets were set to open higher, tracking Wall Street gains after new U.S. economic data reports reflected strength in the economy and a slew of corporate earnings releases beat expectations.

Here is a live snapshot of how markets are faring:

Major stock indexes end Thursday higher

The S&P 500 added 0.54% to close at 6,297.36. The Dow Jones Industrial Average jumped 229.71 points, or 0.52%, ending at 44,484.49. The tech-heavy Nasdaq Composite rose about 0.7% to settle the session at 20,885.65.

Crypto regulation bills move forward after record-setting House vote

The future of three crypto bills in Congress remains uncertain after two days of House Republican infighting over the contents of the legislation and the process for moving it.

Late Wednesday night, the House GOP finally approved the rules of debate for the crypto bills and an adjacent Pentagon appropriations package, allowing consideration for the bills. The vote was the longest-ever in the House.

The three bills in question include one, the GENIUS Act, which passed the Senate in June, and two others that are moving through the House first: The CLARITY Act and a bill that would bar the Federal Reserve from establishing a central bank digital currency.

Bitcoin has been trading at all-time highs in recent days, fueled by optimism on the crypto legislation and the institutional buying of bitcoin exchange-traded funds (ETFs).