U.S. stock futures on Tuesday rose modestly as easing worries about China’s economic growth prospects were offset partially by evidence that Europe’s largest economy is struggling.
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The People’s Bank of China said it will increase efforts this year to stimulate its economy by improving credit availability for small companies and cut taxes.
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German officials, however, said economic growth slowed last year to its weakest rate in five years, slipping to 1.5 percent from 2.2 percent in 2017. The news increased concerns about a global downturn and the impact of trade conflicts.
In premarket action, the Dow Jones Industrial Average futures were up 124 points, the S&P 500 added 10.75 points and the Nasdaq Composite climbed 39.75.
Asian stocks closed higher. Japan’s Nikkei 225 closed up nearly 1 percent to 20,555.29, Hong Kong’s Hang Seng jumped more than 2 percent and the Shanghai Composite rose 1.36 percent.
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In Europe, Britain’s FTSE 100 rose 0.22 percent, Germany’s DAX added 0.12 percent and France’s CAC 40 increased 0.23 percent.
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On Monday, stocks closed lower in a second straight weaker day after a surprise drop in Chinese exports renewed worries about a global growth slowdown.
China’s exports unexpectedly fell the most in two years in December, and imports by the world’s second-biggest economy also declined. The economic data reinforced worries that the global economy is slowing.
