Global stocks rise as China sees retail sales, industrial output growth

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.

Global stocks rise as China sees retail sales, industrial output growth. IMage: stock chartSteve 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.

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