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Fortune
Fortune
Jim Edwards

China stocks move up on GDP growth surprise as US stocks flirt with record highs

China CSI 300 index
  • S&P 500 Futures: 5,897.00 ⬆️ up 0.18%
  • S&P 500: 5,841.47 ⬇️ down 0.017%
  • Nasdaq Composite: 18,373.61 ⬆️ up 0.036%
  • Dow Jones Industrial Average: 43,239.05 ⬆️ up 0.37% 
  • STOXX Europe 600: 525.43 ⬆️ up 0.29%
  • CSI 300: 3,925.23 ⬆️ up 3.62%
  • Nikkei 225: 38,981.75 ⬆️ up 0.18%
  • Bitcoin: $67,878.72 ⬆️ up 0.75%

China: stocks move up on economic growth upside surprise.
Chinese stocks closed sharply up today as the country’s third-quarter GDP growth came in higher than estimates, at 4.6%. The CSI 300 closed up 3.62% today. China stocks have been on a wild ride this year, up almost 10% over the last 6 months as the governent announced a series of fiscal stimulus programs for the world’s second-largest economy.

Japan: all is calm.
In Japan, the Nikkei 225 closed flat, ticking up just 0.18%.

Europe: equities react positively to interest cut.
European stocks started off the morning strongly with the Stoxx Europe 600 up nearly 0.3% in early trading and the narrower Euro Stoxx 50 up 0.5%. The market reacted positivly to the European Central Bank announcing a cut in interest rates this year.

US: market continues to flirt with record highs.
Last night, US equities remained near their record highs with the Dow Jones Industrial Average closing at 43,239.05, up 0.37%. The S&P 500 Index closed at 5,897.00, up 0.18%. This morning, the US futures market was betting on more upward movement for American assets when the market opens in New York this morning. S&P 500 Futures stood at 5,897.00, up 0.18%, at the time of publication.

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