China's exports jumped in May, reassuring investors about the economy's strength but putting pressure on U.S. President Barack Obama to placate critics who say Beijing is keeping the yuan unfairly undervalued.
The Dow and S&P climbed more than 2 percent on Thursday, with the Nasdaq not far behind as China's confirmation of strong export data relieved recovery concerns and helped lift the euro.
The euro rose on Thursday for a third straight day as strong demand for Spanish bonds eased concern about the country's ability to finance its debt and a spike in Chinese exports boosted confidence on global growth.
Treasury Secretary Timothy Geithner, delivering his sharpest criticism of China's exchange rate policies in months, said on Thursday the yuan's value was critically important for the world economy.
The European Central Bank, Germany's constitutional court and China's pension fund gave a triple boost to efforts to stabilize the euro zone on Thursday, lifting the single currency and European stocks.
The European Central Bank, Germany's constitutional court and China's pension fund gave a triple boost to efforts to stabilize the euro zone on Thursday, lifting the single currency and European stocks.
U.S. Treasury Secretary Timothy Geithner said on Thursday he didn't know whether American efforts to get China to change its exchange rate policies would produce results soon.
U.S. Treasury Secretary Timothy Geithner said on Thursday that reform of China's exchange rate is critically important to the U.S. and global economies and a more flexible yuan was in China's interest.
Stocks rose sharply on Thursday, with the Dow and S&P up more than 2 percent, as confirmation of strong China export data eased recovery concerns and helped spur a climb in the euro.
* ECB extends unlimited liquidity, bonds buying to continue
The euro rose on Thursday as strong demand at a Spanish debt auction eased concerns about how the country will fund its large debt, but caution before a European Central Bank policy decision capped gains.
Stock index futures rose on Thursday, boosted by confirmation of solid China export data and a climb in the euro as investors awaited a report on the U.S. labor market.
China urged the United States on Thursday not to be suspicious about its U.S. Treasury holdings, after the Senate voted to require regular reports on security risks posed by debt held by China and other nations.
Stock index futures pointed to a higher open for Wall Street on Thursday, rebounding from falls in the previous session, with futures for the Dow Jones, S&P 500 and Nasdaq up 0.9 to 1.1 percent by 0849 GMT.
The euro rose on Thursday after the head of China's national pension fund said the currency would weather Europe's debt crisis, though caution before a European Central Bank policy decision capped gains.
Losses in European shares offset gains in Asia on Thursday to drag down world stocks while the euro gained in part because of supportive comments from the influential head of China's national pension fund.
China's rising labor costs will not deter foreign investors because policies to boost domestic consumption provide a new reason for them to seek profits in the world's third-largest economy, a senior trade official said on Thursday.
Asian stocks rose on Thursday on higher-than-expected Chinese exports and assurances from Federal Reserve Chairman Ben Bernanke that the U.S. economic recovery was on solid footing, but European stocks were expected to open lower, tracking Wall Street's fall overnight.
Oil remained lower in Asian trade Thursday despite a positive Chinese data which shows increase in overall exports of the country. Light sweet crude for July was seen trading at $74.23 a barrel at 12.00 noon Singapore time while Brent crude was at $ 74.01 a barrel in London.
Gold prices pared some of its overnight losses in Asian trade Thursday but remained under pressure on firmer currencies and stocks. Gold for immediate delivery was seen trading at $1232.74 an ounce at 12.00 noon Singapore time while U.S. gold futures for August delivery was at $1235.17 an ounce.
New strategic brinkmanship by the Democratic People's Republic of Korea (DPRK); a now-clear determination by the People's Republic of China (PRC) to more aggressively assert its territorial claims in regional waters; the near-collapse of Japanese strategic cohesion during 2010; and the increasing signs of US political caution in North-East Asia, all point to a period of strategic concern for the Republic of China, particularly in its maritime responsibilities.
Germany's economy ministry rejected a request for 1.1 billion euros ($1.5 billion) in loan guarantees for loss-making carmaker Opel.
