Wall Street Rebounds After China Data

Category: Markets / Finance / Nov 12, 2012 11:00AM EDT
Stock indexes rose at the open on Monday (November 12), coming off the worst weekly drop since early June, on upbeat economic data from China. But gains were muted by remaining concerns about the growth outlook in the United States and Europe. A report over the weekend showed China's export growth climbed to a five-month high, beating expectations and adding to recent data suggesting the country's seven straight quarters of slowing economic growth have ended. With the U.S. bond market closed for the Veterans Day holiday and euro zone finance ministers gathering in Brussels to discuss the Greek bailout programme, activity for the remainder of the day was expected to be light. The Dow Jones industrial average gained 4.61 points, or 0.04 percent, to 12,820.00. The Standard & Poor's 500 Index rose 2.09 points, or 0.15 percent, to 1,381.94. The Nasdaq Composite Index added 10.39 points, or 0.36 percent, to 2,915.27.