US stocks higher after strong Chinese data

Written By Unknown on Kamis, 10 Januari 2013 | 08.16

US stocks have opened higher after stronger-than-expected Chinese trade data that boosted growth hopes for the world's second-biggest economy.

After 25 minutes of trade on Thursday, the Dow Jones Industrial Average was up 39.47 points, or 0.29 per cent, at 13,429.98.

The broad-based S&P 500 rose 6.11 points, or 0.42 per cent, to 1,467.13.

The Nasdaq Composite gained 15.30 points, or 0.49 per cent, at 3,121.11.

China said its trade surplus surged 48.1 per cent in 2012 from the previous year, helped by a 7.9 per cent rise in exports. The strong trade data lifted Asian and European stock markets.

On Wall Street, news that Nokia boosted its fourth-quarter earnings guidance and that Ford doubled its quarterly dividend lent support to US stocks, said Briefing.com analyst Patrick O'Hare.

On the downside, Tiffany & Co released an earnings warning, while Morgan Stanley downgraded Microsoft, O'Hare said.

US jobless claims rose by 4,000 last week to come in at 371,000, the government reported, above the 364,000 estimated by analysts.


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