Global stocks rose on Tuesday, with the retail sector in the spotlight after China reported its first retail sales and, industrial output growth since the COVID-19 pandemic.
Steve Goldstein and Carleton English for Barron’s:
Futures for the Dow Jones Industrial Average advanced 200 points, or 0.7%. S&P 500 futures gained 0.8% and Nasdaq Composite futures were up 1.2%.
China reported a 0.5% increase in retail sales during August, alongside continued growth on the production side, as industrial output improved by 5.6% year-over-year.
The Australian dollar, which is sensitive to China’s economy due to the commodities it ships to the world’s number-two economy, rose after the better-than-expected Chinese data.
Apple shares were up 2% premarket ahead of the company’s product launch event, where it is expected to unveil new Apple Watch models and possibly a new iPad.
MacDailyNews Take: A rising tide lifts all boats.
