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Two Ways: China Picks Up the Pace

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Strengthen your portfolio in good times and bad.

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China Picks Up the Pace

China's statistics bureau said the economy grew at an 8.9% pace in the third quarter from a year earlier, the fastest pace in a year, helped in part by stimulus spending and record bank lending, according to Bloomberg.

There's a good chance China will likely hit its 8% growth target this year as the economy grew 7.7% for the first nine months of the year. But much of that gain was due mostly to domestic demand. Exports have slid for the past 11 months accounting for -3.6 percentage points in the last quarter.

For another perspective, see Professor Kristin Graham's A Tale of Two Chinas.

From the Bull Pen: Was yesterday's breakout in Copper a message from the market? How about oil hitting 82 a barrel overnight? If you think China will be the new leader of the global economy, consider the Morgan Stanly A Shares Fund (CAF); sell stops in the near-term can be set below 33.50.

From the Bear Cave: With so many calling for a bottom in the dollar, one cant help but wonder if there's much more weakness ahead for the greenback. For dollar bears, consider the Australian dollar ETF (FXA); a trade below the 10-day moving average (148.60) could signal a short-term correction so a sell stop can be set below that level.

A Quick Check Around the World

Asian trading closed with the Nikkei -0.64%, India -1.29%, Hang Seng -0.48%, Shanghai -0.62%, and Taiwan -1.21%.

Across the pond, we see the FTSE -1.23%, CAC -1.54%, DAX -1.54%

As of 8:10 a.m. EST, S&P Futures are trading +0.25 to 1078.00 and Nasdaq futures are -5.000 to 1748.25.

A Look at Commodities

Over in commodities, crude oil is -0.73 to 80.65 while gold is -6.30 to 1057.10 this morning. Silver is -0.26 to 17.560 and copper -0.025 to 3.0110.

The dollar index is +0.3350 to 75.3000.

On the Radar

Economics

08:30 Initial Claims
08:30 Continuing Claims
10:00 Leading Indicators 0.8% cons.
10:00 FHFA Housing Price Index

Click here for the full trading radar.

Good luck today!

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No positions in stocks mentioned.

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