NEW YORK (AP) — Stock futures are rising after reports show China’s economy has not been slowed by the European sovereign debt crisis.
Asian and European markets are up after China said exports rose 48.5 percent in May, while imports jumped 48.3 percent. The jump in trade temporarily provides some relief that mounting debt problems in Europe would throw off a global economic recovery.
The 27-nation European Union accounts for China’s largest trading partner, so there are worries that if Europe’s economy slows, China’s economy will as well.
Dow Jones industrial average futures are up 82, or 0.8 percent, at 9,985. Standard & Poor’s 500 index futures are up 11.40, or 1.1 percent, at 1,066.90, while Nasdaq 100 index futures are up 16.00, or 0.9 percent, at 1,798.25.
