European stocks may open mixed on Wednesday after China GDP data beat forecasts, fueling hopes of a recovery in the world’s second-largest economy.
China’s GDP grew an annual 6.4 percent in the first quarter of 2019 – unchanged from Q4 and beating forecasts for 6.3 percent.
Retail sales climbed 8.7 percent year-on-year in March – beating expectations for an increase of 8.4 percent and up from 8.2 percent in February.
Fixed asset investment rose 6.3 percent, in line with expectations and up from 6.1 percent in the previous month.
Asian stocks are trading mixed as Chinese data did little to spur buying enthusiasm and a separate report showed Japan’s exports declined in March.
Gold held near four-month low after falling nearly 1 percent in the previous session and the dollar dipped, while oil prices rose on concerns over tightening global supply due to U.S. sanctions and fighting in Libya.
Overnight, U.S. stocks fluctuated before finishing modestly higher following a string of mostly positive earnings and mixed economic data.
The Dow and the tech-heavy Nasdaq Composite rose around 0.3 percent to end at their best closing levels in over six months while the S&P 500 inched up marginally.
After the closing bell, IBM reported a bigger-than-expected drop in first-quarter revenue, while Netflix gave disappointing guidance for the second quarter.
CSX Corp and United Continental Holdings reported quarterly earnings that topped Wall Street’s expectations.
Abbott Labs, Ericsson, Morgan Stanley and PepsiCo are also among the companies due to report their results later in the day.
European markets ended Tuesday’s session higher, with sentiment supported by fairly encouraging results from top U.S. companies and upbeat German investor confidence and UK employment data.
The pan European Stoxx 600 gained 0.3 percent. The German DAX climbed 0.7 percent, while France’s CAC 40 index and the