Dow is about to break the 100-point barrier as the stock market wants to follow China's rebound

US stocks appeared ready to boost trading on Friday, as a rebound in major Chinese stock indexes eased concerns over slowing global growth, even as Beijing announced the worst economic growth rate since 2009 .

Friday's action also marks the 31st anniversary of the 1987 stock market crash.

How did the benchmarks behave?

Futures for the Dow Jones Industrial Average

YMZ8, + 0.38%

increased by 106 points, or 0.4%, to 25,487, those of the S & P 500

ESZ8, + 0.34%

rose by 8.80 points, or 0.3%, to 2,781.25, and futures contracts on the Nasdaq-100 gained 40 points, or 0.6%, at 7,178.25.

This indicates a reversal from Thursday when the Dow

DJIA, -1.27%

lost 327.23 points, or 1.3%, to end at 25,379.45 and at the S & P 500 index

SPX, -1.44%

paid 40.43 points, or 1.4%, to 2,768.78. The Nasdaq composite index

COMP -2.06%

slipped 157.56 points, or 2.1%, to 7,485.14.

For the week, the Dow should increase by 0.2%, the Nasdaq should record a weekly advance of less than 0.1%, while the Nasdaq is expected to decline by 0.2% at the close on Thursday. If the Dow and S & P 500 managed to finish the week in the green, they would stop a skid of three consecutive weeks, while the Nasdaq will end its weekly losses twice in a row.

What motivated the market?

Major Chinese stock indexes on Friday posted their best daily gains since early August, ending another ugly week, as Beijing authorities made appeasing comments on the health of the economy after gross domestic product third quarter, weaker than expected. .

China's GDP grew by 6.5% between July and September compared to the same quarter of the previous year, a slight decrease from the 6.7% growth recorded in the previous quarter and expectations. analysts, who forecast growth of 6.6%. However, disappointing results were wiped out after officials said they were focused on stock market support, offering a brief respite to a region that had seen its losses deteriorate in the midst of a conflict commercial with the United States.

The central bank governor and regulators of China's banks and securities said the recent volatility of Chinese equities did not reflect the country's economic fundamentals and "stable financial system".

Investors fear that if China, the world's second-largest economy, begins to experience more and more difficulties, it could spread first in emerging market economies, then in developed markets such as the United States.

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Market participants also watched the escalation of tensions between the United States and Saudi Arabia when Treasury Secretary Steven Mnuchin announced Thursday that he was retiring from a state of affairs. investment conference in Riyadh in response to the disappearance of Saudi journalist Jamal Khashoggi, residing in the United States.

Which Fed data and stakeholders are at the center?

A report on existing home sales is scheduled for 10 am Eastern Time, while Atlanta Fed Chairman Raphael Bostic is scheduled to speak at 12 pm. In informal discussion in Macon, Georgia, while Dallas Federal Reserve Bank Chairman Robert Kaplan will participate in a Q & A session in New York at the Princeton Club.

What did the strategists say?

"The calendar of events is rather empty and it is therefore very unlikely that it will come to the rescue of the markets. The focus will again be on earnings, on the progress made in the Kashoggi case and on the development of the BTP-Bund spread. We see a very small chance that Moody's is releasing the result of its rating review today, but this far-off risk could nevertheless have contributed to widening the propagation spread of the day yesterday, "wrote UniCredit analysts in a research note Friday.

Which stocks are to watch?

Actions in PayPal Holdings Inc.

PYPL, -3.26%

increased by more than 7% in pre-market trading after the company improved its outlook for the fourth quarter.

Chemical Giant DowDuPont Inc.

DWDP, -1.66%

Last Thursday, he announced a charge of $ 4.6 billion in the third quarter. His shares were down 1% before the bell.

American Group International Inc.

AIG, -2.04%

Expects to record between $ 1.5 billion and $ 1.7 billion in pre-tax disaster losses, the insurance giant announced. The insurer's shares decreased by 3%.

American Express Co.

AXP, -1.44%

published stronger third quarter results and raised its outlook for the year. Shares gained about 2% in pre-market.

What other assets have been targeted?

Shanghai Composite Index

SHCOMP, + 2.58%

closed Friday's session up 2.6%, marking its largest single-day increase since August 7, according to data from FactSet, while the Shenzhen Composite Index

399,106, + 2.58%

also jumped 2.6%, its best session since August 9th.

Gold futures

US: GCU8

and the US dollar

DXY, -0.07%

was trading flat, and the futures contracts gross

US: CLU8

drifted higher.

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