China's gross domestic product grew 4.5 percent from a year earlier in the third quarter, according to data from the National Bureau of Statistics released Monday, accelerating from 4.3 percent in the second quarter. Retail sales of consumer goods rose 1.1 percent, more than double the 0.5 percent increase forecast and up from 0.4 percent the previous month, a sign of stronger domestic demand in the world's second-largest economy.
The data lifted financial markets worldwide. Bitcoin traded near $82,500, up 0.7 percent since midnight UTC and 1.3 percent over 24 hours. Nasdaq futures gained more than 1 percent, Japan's Nikkei rose 1.8 percent and South Korea's Kospi advanced 0.6 percent, while Chinese stocks added 0.3 percent. Gold was largely unchanged near $4,180 and the dollar index held below 102.
Oil prices fell on both sides of the Atlantic, reversing some of last week's gains. Reuters attributed the decline to expectations that a Russia waiver by President Donald Trump would boost supply. Geopolitical risks in the Middle East persist, the report noted.
Last week's losses were led by AI-related shares, and the rebound is consistent with the VIX's historical tendency to normalize after Friday spikes, a pattern that has often coincided with steadier equity markets, according to the report.
A sustained decline in oil could ease inflation fears, clearing the way for the Federal Reserve to cut interest rates. The central bank is expected to keep its benchmark borrowing cost unchanged in the 4.75 percent to 5 percent range this month, after raising rates by 25 basis points last month.