Markets rise with China retail sales

Markets rose on Tuesday.

The S&P 500 rose 0.5 percent, the STOXX Europe 600 rose 0.7 percent and the Shanghai Composite rose 0.5 percent.

Stocks received a boost from a report from China showing that retail sales rose 0.5 percent in August from a year ago, the first positive report for the year. Industrial production rose 5.6 percent.

“We think that China’s economic recovery is on a reasonably firm footing now and should continue through Q4 and into 2021,” economists at Oxford Economics wrote.

In the US, industrial production rose 0.4 percent in August.