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 * 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.
* The weak growth in China also prompted the International Monetary
Fund to cut its global growth forecasts for the third time in less
than a year.
* Crude prices, languishing near 12 year lows as an oversupplied
market braced for Iran's oil coming online, were up on an uptick in
Chinese oil demand. Benchmark Brent rose nearly 6 percent to $30.19.
[O/R]
* Global stocks rose, with investors hopeful of continued stimulus
measures from central banks around the world even as the U.S.
Federal Reserve looks to tighten monetary policy.
* Wall Street is coming off a massive selloff on Friday that saw the
S&P 500 sinking to its lowest since October 2014.
* Investor focus is also on U.S. corporate earnings reports for a
bearing on the impact of the global slowdown on results. S&P 500
companies are expected to report a 4.7 percent drop in quarterly
profit, according to Thomson Reuters data.
* Shares of Bank of America were up 1.7 percent at $14.70 premarket
after the bank reported a 9.8 percent rise in quarterly profit.
* Morgan Stanley was up 3.4 percent at $26.85 after it reported a
quarterly profit, compared with a year-earlier loss.
* Johnson & Johnson was up 1 percent at $98 after it confirmed its
2015 earnings forecast and said it would cut 4-6 percent of jobs at
its medical devices business.
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* Tiffany was down 3.8 percent at $65.10 after the upscale jeweler
said holiday season sales fell 6 percent.
* Yahoo was up nearly 3 percent at $30 after Barron's said the
company's stock could benefit from a sale of its core internet
business.
* IBM was up 1 percent, while Netflix rose 2.5 percent ahead of
their results after the close.
Futures snapshot at 6:57 a.m. ET:
* Dow e-minis were up 268 points, or 1.68 percent, with 141,080
contracts changing hands.
* S&P 500 e-minis were up 31.5 points, or 1.68 percent, with 692,129
contracts traded.
* Nasdaq 100 e-minis were up 72.25 points, or 1.74 percent, on
volume of 122,035 contracts.
(Reporting by Abhiram Nandakumar in Bengaluru; Editing by Savio
D'Souza)
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