First, the scoreboard:
- Dow: 15,076.2, +153.7, +1.0%
- S&P 500: 1,670.8, +15.6, +0.9%
- NASDAQ: 3,704.7, +44.7, +1.2%
And now the top stories:
- Overnight, Asia offered some good news about the global economy. First, China's exports jumped by 7.2% in August, which was much stronger than the 5.5% expected by economists.
- Japan's Q2 GDP growth rate was revised up to 3.8% from an earlier estimate of 2.6%. This adds to evidence that suggests Prime Minster Shinzo Abe's ambitious economic plan is working.
- In the U.S., we learned that consumer credit balances expanded by just $10.4 billion in July. This was lower than the $12.7 billion expected by economists. Revolving credit - credit cards and the like - fell $1.8 billion, or 2.6% year over year, to $849.8 billion. Non-revolving credit - student loans, auto loans, et al. - rose $12.3 billion, or 7.4% year over year, to $2.002 trillion.
- Don't Miss: 22 Stunning Side-By-Side Images That Demonstrate China's Huge Wealth Gap »