US STOCKS-Wall St up on optimism from China data, bank earnings

martes 19 de enero de 2016 10:56 GYT
 

* China's GDP grew 6.9 pct last year

* Banks rise on strong results from BofA, Morgan Stanley

* Tiffany slides after weak holiday sales

* Indexes up: Dow 1 pct, S&P 0.91 pct, Nasdaq 0.94 pct (Updates to open)

By Abhiram Nandakumar

Jan 19 (Reuters) - Wall Street rose on Tuesday morning after China's slowest annual growth rate in 25 years raised hopes of further stimulus measures from Beijing, and on strong earnings reports from Bank of America and Morgan Stanley.

China's 2015 growth hit 6.9 percent after the fourth quarter slowed to 6.8 percent, capping a tumultuous year in which concerns about Beijing ability to rebalance the slowing economy have rattled investors across markets.

"By no means is this indicative of the worst is over," said Andre Bakhos, managing director at Janlyn Capital in Bernardsville, New Jersey.

"We've had a very erratic, choppy start to the year and the China news is going to give investors a reason to do some short covering and something to hang their hats on," he said.   Continuación...