Latest News:  
Beijing   Sunny/Cloudy    33 / 24 ℃  City Forecast

English>>China Business

Wall Street ends higher despite disappointing trade data from China

(Xinhua)

10:53, August 12, 2012

Wall Street turned positive in the final minutes of trading and ended higher on Friday, despite the influence of disappointing trade data from China.

In most of the trading time on Friday, the US stocks were declining on China's weaker-than-expected trade data.

According to the General Administration of Customs, China's exports in July rose only 1 percent, plummeting from the 11.3- percent growth recorded in June and also well below market expectations.

China's exports to the EU, its largest trade partner, slumped 16.2 percent year on year, underlining the lack of demand in the debt-ridden region.

Meanwhile, Chinese imports also lost steam, increasing only 4.7 percent year on year to $151.8 billion, as against a growth of 6.3 percent in June.

The weak data added to the concerns about a major slowdown in the world's second largest economy, but at the same time fueled expectations for more government action to support the economy.

In the United States, the Labor Department said that import prices fell for the fourth straight month in July, down 0.6 percent. The unexpected drop also raised investors' hopes for further monetary stimulus from the Federal Reserve.

On the earnings front, retailer store JCPenney reported a larger-than-expected second-quarter loss, and warned that the company had difficulties in meeting its pervious earnings estimate for this year.

The Dow Jones industrial average gained 42.76 points, or 0.32 percent, to 13,207.95. The Standard & Poor's 500 added 3.07 points, or 0.22 percent, to 1,405.87. The Nasdaq Composite Index rose 2.22 points, or 0.07 percent, to 3,020.86.

Email|Print|Comments(Editor:厉振羽、姚春)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Regiment conducts equipment exercise

  2. Syrian refugees at Zaatari camp in Jordan

  3. CPI hits 30-month low amid easing calls

  4. Yi ethnic group celebrate Torch Festival

  5. Movie---The Locked Door

  6. Convenient, Artistic Cell Phone Photography

Most Popular

Opinions

  1. Editorial: Outbound investment risks
  2. Don’t be overwhelmed by domestic issues
  3. US pushes China to get serious about sanctions
  4. Obama diverts attention with Romney bashing
  5. Fearing others' rise offers path to eventual doom

What's happening in China

Dating websites lack supervision and management

  1. Death toll in E China reservoir breach rises to 10
  2. No child labor found in Samsung supplier: officials
  3. Smart, young rockers are electrifying
  4. Climate change will bring more heavy rains
  5. Naked guy is not our Party chief: local authority

China Features

  1. Boxing in China II: A Tale of Two Decades
  2. Fortune 500 Chinese companies not strong
  3. Why Hollywood favores China's actresses?
  4. Dongfeng Honda to recall 76,000 CR-Vs
  5. How to protect yourself during heavy rainstorms?

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai