China's Q4 GDP grew 8.9% Y/Y, the slowest growth since mid-2009, but ahead of expectations of 8.7%. For the entire year, growth clocked in at 9.2% vs. 10.4% in 2010. After a brief pop at the open, Chinese shares are back to unchanged. Other markets are hanging on to gains: Hong Kong +1.6%, Australia +1.3%. "Risk" currencies are higher as well: Euro +0.5%, aussie +0.5%.U.S. stock index futures have reversed last night's losses, now moderately higher in the wake of a strong European close earlier today and better-than-expected data out of China.
Stock Market Futures - 1/16/2012 -Updated 11.30 PM EST
I will keep updating ....
S & P 500 Futures 8.75
NASDAQ Composite Index Futures 19.75
Dow Jones Industrial Average Futures 79
Oil Futures 99.47
China's gross domestic product growth slowed in the fourth quarter to 8.9%, but exceeded market expectations centered on an outcome of 8.6%. Industrial output growth in December also accelerated unexpectedly, rising 12.8% from a year earlier, faster than 12.4% growth in November.
Japan's Nikkei Stock Average rose 0.6%, Australia's S&P/ASX 200 advanced 1.3%, Hong Kong's Hang Seng Index advanced 1.5%, South Korea's Kospi Composite climbed 1.4% while China's Shanghai Composite was up 0.3%, paring earlier gains in choppy trade amid reduced expectations for aggressive policy-easing from Beijing.
A successful sale of French Treasury bills Monday had earlier reassured investors in the wake of the country's credit downgrade late Friday. Following the China data, risk-sensitive currencies such as the euro and the Australian dollar received a boost.
The single currency was fetching $1.2728 against the U.S. dollar, up from $1.2666 late Monday in Toronto, and ¥97.75 against the yen, from ¥97.25. The dollar was at ¥76.76, compared with ¥76.78.
The Australian dollar rose to US$1.0362, from US$1.0328 before the China data.
Gains in the Sydney market accelerated following the GDP reading, led by resources that are closely tied to China's economic fortunes. BHP Billiton rose 1.4%, and Fortescue Metals advanced 3.2%. In Tokyo, China plays such as Kajima Corp. and Fanuc were up 3.2% and 2.8%, respectively.
Overall, investors remained cautious amid the euro-zone debt crisis. On Monday, Standard & Poor's downgraded its long-term credit rating on the European Financial Stability Facility, underscoring that a resolution to Europe's winding debt crisis remains some way off.
Spot gold was at $1,654.80 per troy ounce, up $12 from its global settlement on Monday. February Nymex crude oil futures were $1.26 higher at $99.96 per barrel on Globex.
I will keep updating ....
S & P 500 Futures 8.75
NASDAQ Composite Index Futures 19.75
Dow Jones Industrial Average Futures 79
Oil Futures 99.47
China's gross domestic product growth slowed in the fourth quarter to 8.9%, but exceeded market expectations centered on an outcome of 8.6%. Industrial output growth in December also accelerated unexpectedly, rising 12.8% from a year earlier, faster than 12.4% growth in November.
Japan's Nikkei Stock Average rose 0.6%, Australia's S&P/ASX 200 advanced 1.3%, Hong Kong's Hang Seng Index advanced 1.5%, South Korea's Kospi Composite climbed 1.4% while China's Shanghai Composite was up 0.3%, paring earlier gains in choppy trade amid reduced expectations for aggressive policy-easing from Beijing.
A successful sale of French Treasury bills Monday had earlier reassured investors in the wake of the country's credit downgrade late Friday. Following the China data, risk-sensitive currencies such as the euro and the Australian dollar received a boost.
The single currency was fetching $1.2728 against the U.S. dollar, up from $1.2666 late Monday in Toronto, and ¥97.75 against the yen, from ¥97.25. The dollar was at ¥76.76, compared with ¥76.78.
The Australian dollar rose to US$1.0362, from US$1.0328 before the China data.
Gains in the Sydney market accelerated following the GDP reading, led by resources that are closely tied to China's economic fortunes. BHP Billiton rose 1.4%, and Fortescue Metals advanced 3.2%. In Tokyo, China plays such as Kajima Corp. and Fanuc were up 3.2% and 2.8%, respectively.
Overall, investors remained cautious amid the euro-zone debt crisis. On Monday, Standard & Poor's downgraded its long-term credit rating on the European Financial Stability Facility, underscoring that a resolution to Europe's winding debt crisis remains some way off.
Spot gold was at $1,654.80 per troy ounce, up $12 from its global settlement on Monday. February Nymex crude oil futures were $1.26 higher at $99.96 per barrel on Globex.
For the latest updates on the stock market, visit,
http://daytradingstock-blog.blogspot.com/
