China encourages stock growth; the dollar is rising

Stocks are ending the week on a positive note as the latest economic data from China offers reassurance to investors concerned about the global growth outlook, while prospects of a trade deal improved. Treasuries extended a decline and the dollar pushed higher for a third day.

Futures on the S&P 500, Dow Jones and Nasdaq gained, tracking the advance in the Stoxx Europe 600 Index, which rose to its highest level in almost five months as car makers climbed. Most industry sectors were in the green, even after data showed that euro-area manufacturing contracted last month. The yen’s drop to a 10-week low against the greenback helped boost Japanese equities, while Chinese shares outperformed as an increase in the Caixin manufacturing gauge and confirmation that MSCI Inc. will raise the weight of Chinese stocks in its global benchmarks buoyed sentiment.

The Stoxx Europe 600 Index increased 0.5 percent as of 8:45 a.m. New York time, set for the highest close in 21 weeks. Futures on the S&P 500 Index rose 0.6 percent. The MSCI All-Country World Index gained 0.1 percent. The U.K.’s FTSE 100 Index increased 0.5 percent, the largest climb in more than a week. The MSCI Emerging Market Index rose 0.1 percent. The yield on 10-year Treasuries jumped two basis points to 2.73 percent. Germany’s 10-year yield rose one basis point to 0.19 percent.

Stocks Climb as China Lifts Spirits; Dollar Rises, Bloomberg, Mar 01