Strong data out of China helped calm Wall Street down. China said exports rose 3.3% on a year-over-year basis in July. Economists polled by Reuters expected exports to fall by 2%. Global bond yields stabilized while investors digested better-than-expected trade data out of China.
Wall Street ended Wednesday little changed despite earlier falls following a dramatic move in bond yields. Futures gained as Disney shares climbed 1% in the premarket. Disney’s gains come after an analyst at Credit Suisse upgraded the media giant to outperform from neutral, citing expectation for a successful Disney+ launch. The U.S. 10-year Treasury yield briefly dipped below 1.6% to hit a 2016 low, but was back up near 1.72% by Thursday morning.