The Conference Board released its leading economic index (LEI) for the U.S. on Thursday. The leading economic index rose 0.6% in April, exceeding expectations for a 0.4% increase, after a flat reading in March. March's figure was revised down from a 0.2% rise.

The coincident economic index climbed 0.3% in April, after a flat reading in March.

"The U.S. LEI picked up sharply in April, with all components except consumer expectations contributing to the rebound from an essentially flat first quarter. Despite a slow start in 2016, labour market and financial indicators, and housing permits all point to a moderate growth trend continuing in 2016," director of business cycles and growth research at The Conference Board, Ataman Ozyildirim, said.