China Strong-Arms its Markets

Published January 8

China’s indexes conspicuously opened roughly 3% higher on Friday. Sure they had the benefit of currency inaction by government overseers, versus the devaluations of previous days, but the mood was entirely too sanguine nonetheless. For those of us already skeptical of the conventions of the mainland, rumors of government support of equities via strategic purchases were easily believable if not expected. For European investors, it appears the same holds true given their cautious reception of the news. And for U.S. markets, it will at least provide a reprieve, while we contend with critical economic data of our own that threatens to confirm China economic softness is contagious. See the full report on China Strong-Arms a Rally.

Sector Security	Early Indication 7:30 AM ET
SPDR S&P 500 (NYSE: SPY)	+0.6%
SPDR Dow Jones (NYSE: DIA)	+0.7%
PowerShares QQQ (Nasdaq: QQQ)	+0.7%
iShares Russell 2000 (NYSE: IWM)	+0.2%
Vanguard Total Stock Market (NYSE: VTI)	+0.4%
Vanguard FTSE Europe (NYSE: VGK)	-0.0%
iShares China Large-Cap (NYSE: FXI)	+0.9%
Deutsche X-Trackers Harvest CSI 300 (NYSE: ASHR)	+2.0%
iPath S&P 500 VIX ST Futures (NYSE: VXX)	-2.4%
SPDR Gold Trust (NYSE: GLD)	-0.8%
United States Oil (NYSE: USO)	+0.7%

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