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.
This material is conveyed as a solicitation for entering into a derivatives transaction.
This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.
Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.
Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.
You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.