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FinanceNew York Stock Exchange

China stocks move up on GDP growth surprise as US stocks flirt with record highs

Jim Edwards
By
Jim Edwards
Jim Edwards
Executive Editor, Global News
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Jim Edwards
By
Jim Edwards
Jim Edwards
Executive Editor, Global News
Down Arrow Button Icon
October 18, 2024, 4:38 AM ET
China CSI 300 index
The China CSI 300 Index is up nearly 10% over the last 6 months.
  • S&P 500 Futures: 5,897.00 ⬆️ up 0.18%
  • S&P 500: 5,841.47 ⬇️ down 0.017%
  • Nasdaq Composite: 18,373.61 ⬆️ up 0.036%
  • Dow Jones Industrial Average: 43,239.05 ⬆️ up 0.37% 
  • STOXX Europe 600: 525.43 ⬆️ up 0.29%
  • CSI 300: 3,925.23 ⬆️ up 3.62%
  • Nikkei 225: 38,981.75 ⬆️ up 0.18%
  • Bitcoin: $67,878.72 ⬆️ up 0.75%

China: stocks move up on economic growth upside surprise.
Chinese stocks closed sharply up today as the country’s third-quarter GDP growth came in higher than estimates, at 4.6%. The CSI 300 closed up 3.62% today. China stocks have been on a wild ride this year, up almost 10% over the last 6 months as the governent announced a series of fiscal stimulus programs for the world’s second-largest economy.

Japan: all is calm.
In Japan, the Nikkei 225 closed flat, ticking up just 0.18%.

Europe: equities react positively to interest cut.
European stocks started off the morning strongly with the Stoxx Europe 600 up nearly 0.3% in early trading and the narrower Euro Stoxx 50 up 0.5%. The market reacted positivly to the European Central Bank announcing a cut in interest rates this year.

US: market continues to flirt with record highs.
Last night, US equities remained near their record highs with the Dow Jones Industrial Average closing at 43,239.05, up 0.37%. The S&P 500 Index closed at 5,897.00, up 0.18%. This morning, the US futures market was betting on more upward movement for American assets when the market opens in New York this morning. S&P 500 Futures stood at 5,897.00, up 0.18%, at the time of publication.

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About the Author
Jim Edwards
By Jim EdwardsExecutive Editor, Global News
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Jim Edwards is the executive editor for global news at Fortune. He was previously the editor-in-chief of Business Insider's news division and the founding editor of Business Insider UK. His investigative journalism has changed the law in two U.S. federal districts and two states. The U.S. Supreme Court cited his work on the death penalty in the concurrence to Baze v. Rees, the ruling on whether lethal injection is cruel or unusual. He also won the Neal award for an investigation of bribes and kickbacks on Madison Avenue.

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