US stocks rally after China data

New York, Jan 20 (IANS) US stocks traded higher amid expectations of further stimulus measures from Beijing after data showed China’s slowest economic expansion since 1990, and strong bank earnings reports.

By Tuesday noon, the Dow Jones Industrial Average rose 98.82 points, or 0.62 percent, to 16, 086.90, Xinhua news agency reported.

The S&P 500 gained 10.56 points, or 0. 56 percent, to 1,890.89. The Nasdaq Composite Index was up 15.90 points, or 0.35 percent, to 4,504.31.

China’s economy grew 6.9 percent year on year in 2015, in line with the official target of around 7 percent for the year, according to the data from the National Bureau of Statistics released on Tuesday.

It is China’s slowest economic growth in 25 years.

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