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China's February trade performance was far worse than economists
had expected, with exports tumbling the most in over six years.
Global stocks fell after the data. Crude oil and copper prices
were down marginally. [O/R] [MET/L]
Investors are focusing on data for clues on the state of the
global economy and monetary policies of central banks across the
world.
The European Central Bank is expected to announce further
stimulus at its meeting later this week.
In contrast, the U.S. Federal Reserve is looking to raise
interest rates this year as a raft of data suggested the
economic recovery in the United States was gaining momentum.
The S&P 500 and the Dow Jones industrial average closed higher
on Monday, helped by a surge in energy shares, while the Nasdaq
was dragged down by declines in technology stocks.
The S&P logged its first five-day streak of gains since October
and closed above 2,000 for the first time since Jan. 5.
Shares of Urban Outfitters <URBN.O> were up 10 percent at $31
premarket, after the company reported better-than-expected sales
for its bohemian-inspired Free People brand.
Apple <AAPL.O> was down 1.1 percent at $101.87. Chipmaker Dialog
Semiconductor <DLGS.DE> forecast first-quarter revenue below
estimates, signaling a continuing softening of the smartphone
market.
Shake Shack <SHAK.N> was down 9.3 percent at $38.30 after the
burger chain issued disappointing results and forecast.
(Reporting by Abhiram Nandakumar in Bengaluru; Editing by Anil
D'Silva)
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