NEW YORK: Wall Street started Friday by shaking off an ugly six-day stretch of trading, as stocks opened higher with the help of two solid earnings reports from the financial sector.
Technology stocks, which had been hit particularly hard during the sell-off, rose sharply. The Nasdaq index gained more than 2 percent in early trading while the Standard & Poor’s 500-stock index rose as much as 1.5 percent.
The gains in the United States came after rebounds in Asian and European markets. Stocks in China and Japan finished modestly higher, and markets in Hong Kong and Taiwan rose more than 2 percent. Major indexes in Britain, France, and Germany were up less than 1 percent in early trading.
rade data from China appeared to be calming investors’ anxiety. On Friday, China said exports had risen more than expected in September as a result of increases in shipments to Europe and stable trading with the United States despite escalating tensions.
The data was a reminder that global demand remains strong even amid broad concerns about rising interest rates and the strain between Washington and Beijing.