Wednesday, 9 September 2015

Markets rally with Chinese stocks

Markets rallied strongly on Tuesday, thanks to signs of stability in China.

The Shanghai Composite Index finished the day up 2.9 percent after being down 2.3 percent earlier in the session. The S&P 500 jumped 2.5 percent and the STOXX Europe 600 rose 1.2 percent.

Brent crude jumped 4 percent, copper surged the most in two years and US 10-year Treasury yields rose seven basis points to 2.19 percent.

Still, Sumanta Dey at Reuters reminds us that Chinese imports from the rest of the world fell nearly 14 percent in August compared to a year ago, the tenth straight month of falling imports -- an ominous sign for the global economy.

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