Thursday June 10, 2010
US STOCKS-Wall St rises after China data boosts optimism
By Chuck Mikolajczak
NEW YORK, June 9 (Reuters) – Wall Street advanced on Wednesday after unofficial data showed Chinese exports topped expectations, boosting hopes for a global recovery.
Chinese exports jumped about 50 percent in May from a year earlier, sources told Reuters. The surge would suggest the risk of a Chinese economic downturn is very small. The report, which will be officially released Thursday, fueled a rise in global markets.
“Everybody was worried because China has been the leading engine of the world economy, and a few months ago when the Chinese government put the brakes on it, that meant putting the brakes on the world economy,” said Keith Springer, president of Springer Financial Advisors in Sacramento, California.
To view full article: http://www.keithspringer.com/article125.htm