Wall Street gained overnight, bolstered by better-than-expected results from JPMorgan Chase, while trade data from China fuelled commodities including copper and iron ore amid hopes the juggernaut economy is in better shape than thought.
Chinese exports denominated in US dollars jumped a larger-than-expected 11.5 percent year-on-year in March, while imports shrank 7.6 percent.
"The global market reaction is a vote of confidence in the China economy and commodities in general," Bill Nelson, senior economist for St Louis-based Doane Advisory Services, told Bloomberg.
Wall Street moved higher, as did stocks in Europe and Asia. In 1.22pm New York trading, the Dow Jones Industrial Average gained 0.8 percent, while the Nasdaq Composite Index rose 1 percent. In 1.07pm trading, the Standard & Poor's 500 Index added 0.6 percent.
Gains in shares of JPMorgan Chase and those of Goldman Sachs, up 4.2 percent and 3.2 percent respectively, led the climb in the Dow.
JPMorgan reported higher-than-expected revenue and profit, bolstering bank stocks amid optimism the industry's latest earnings might not prove as dire as feared.
To be sure, some analysts say JPMorgan's results may prove the sector's exception this season.