Stock index futures in the U.S. and around the globe shot upwards on Monday morning, as strong economic growth in China and new capital requirements from the Basel Committee on Banking Supervision boosted investor confidence in the global economy.
China's industrial production increased by 13.9 percent this past from from a year ago, while the Basel Committee reached a deal that more than doubles major banks' capital requirements.
Dow Jones Industrial Average index futures rose 87 points to 10,480, while S&P 500 index futures were up 9.4 points to 1,114.3 at 9:32 a.m. EST. Nasdaq 100 index futures gained 17.25 points to 1,907.
"The world is not ending," Kevin Rendino, a money manager at New York-based BlackRock Inc., said in an interview on Bloomberg Television. "Things are not getting worse, they are getting better."
Indeed, they were getting better quickly for emerging-market stock indexes; Mexican Bolsa index futures soared 495 points to 33,350, while Brazilian Bovespa index futures jumped 547 points to 67,930.
Across the Pacific, Hong Kong's Hang Seng index futures rose 521 points to 21,720.
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