Stocks opened solidly higher on Friday following stronger-than-expected economic data out of China and Europe, along with healthy bank earnings.
The S&P 500 was up 0.4% to around 2,899. The Dow Jones Industrial Average advanced 227 points, or 0.8%, to 26,369. The Nasdaq Composite was up 0.5% to 7,987.
The broad-based S&P was on course to wipe out this week's losses. Equities were buoyed by a surge in exports and loan data in China, suggesting the China's economic slowdown may be bottoming out soon.
Eurozone industrial production also fell less than expected. Friday welcomes the unofficial beginning of earnings season, with investors eyeing results from JPMorgan Chase & Co. and Wells Fargo & Co. Analysts say a robust financial sector could suggest the underlying U.S. economy has remained resilient to slower global growth.
Source : Market Watch