Chinese Data Points to Soft Landing; Futures Rise

[Stocks-to-Watch]

Stocks throughout the world got a boost from data showing continued expansion in the Chinese economy, giving investors hope that China’s growth might slow somewhat, but won’t completely stall. China’s fourth quarter GDP rose 8.9%, ahead of expectations for 8.6% growth. The country’s full-year GDP rose 9.2%, down from 10.4% in 2010.

Dow futures rose 104 points to 12,494; S&P 500 futures rose 10.8 points to 1,299.7.

Among the stocks showing large gains were the casino operators like Wynn Resorts (WYNN), which is dependent on growth in China because of its Macau resort properties.

Citigroup (C) fell 2.8% in premarket action after the bank’s mixed earnings report disappointed investors. Wells Fargo (WFC) rose 1.2% after earnings.



Original Article Source by Barrons.com