Markets Are Gaining All Around The World

It's going to be a pretty busy week in markets for three reasons: Earnings, Bernanke testimony in front of Congress, and a fair amount of economic data.

And things are starting off on a bullish footing.

Markets are gaining around the world, after Chinese GDP data that came in "in-line" (growth of 7.5%), this providing relief to investors who were worried that the bottom would fall out.

Chinese stocks themselves ended up 1%.

Italy is up 0.7%, Spain is up 1%, and Germany is up 0.7%.

And US futures are pointing to a green open.

In the US, the big economic datapoint today will be retail sales at 8:30 AM ET.