NEW YORK (Reuters) – Global stocks rose on Friday after JP Morgan’s results kicked off the U.S. corporate earnings season in style, while signs of stabilization in China’s economy helped riskier assets amid talk that the growth outlook worldwide is better than thought.
FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 9, 2019. REUTERS/Brendan McDermid/File Photo
Chinese data showed exports rebounded in March, lifting U.S. and euro zone bond yields to three-week highs and helping offset weaker imports and reports of another cut to German growth forecasts.
Investors are looking for signs of a Chinese economic recovery to temper global growth worries, especially after the International Monetary Fund this week downgraded its 2019 world economic outlook for the third time.
China’s trade results, as well as credit data, have helped boost risk appetite and reinforce the stabilization thesis, which should have spill-over effects for the global economy, said Candice Bangsund, a portfolio manager with the global asset allocation team at Fiera Capital in Montreal.
“The whole China situation really appears to be gaining some ground,” Bangsund said. “We saw a very impressive rebound in exports; this of course is helping