US Shares Bounce Over US and Chinese Data

Major stock indexes edged higher in early trading, then continued to rise boosted by improved Chinese data, led by retail sales’ rising to 4.9% October, compared to the previous reading of 4.4%, above the expected 3.5%.

The US data also showed an improvement at the level of the manufacturing sector, which was reflected in the reading of the New York Manufacturing Index recorded 30.9 points in November, compared to 19.8 points above the expected 21.6 points.

Markets await the expected Biden-Xi summit and what messages it will bring about.

The Dow Jones rose to 36,204 points after adding more than 100 points, or 0.1%. The Standard & Poor’s 500 Index rose to 4,688 points, after gaining about six points, or 0.2%. The Nasdaq index of heavy technology industries also achieved 15850 points, after gaining about 11 points, or 0.1%.