FILE - Traders work on the floor at the New York Stock Exchange in New York, Tuesday, Jan. 24, 2023. Futures for the S&P 500 rose 0.4% before the bell, while the Dow Jones Industrial Average inched up 0.1%.
The strong showing by major banks added a sense of calm after two regional bank failures last month. Though it's still early in earnings season, results so far have been encouraging given the pessimism heading into the reporting period. Traders have been focused on data out of China as the region's chief engine for growth, and trading was muted until the release of its gross domestic product figures. China's 2023 growth target is 5%.
Analysts say new trade patterns will emerge since markets have been rocked by various political uncertainties such as the war in Ukraine, threatening supply chains and triggering fluctuations in consumer prices and moves by the world's central banks.
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China will be the global economy's top growth driver in next 5 yearsChina will become the global economy's biggest growth driver in the next 5 years, doubling the US contribution, IMF says This needs repeating because policy wonks in the United States have trouble with arithmetic. geraldmcgrew2 Bye bye, Miss American pie. You sucked, anyway. Sounds about right. They are 4 big countries that produce for low prices and don't care about their populations well being.
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