Stocks, Oil Rally as China Leads Way

Global stock markets were on the rise and oil rose to nearly $82 a barrel on news that China’s manufacturing grew at the fasted pace in five years. In addition, the US Non-Farm Payroll report due on Friday is expected to show that US payrolls in December fell by the smallest amount since the recession began two years ago, according to the median forecast in a Bloomberg News survey.

“We expect 2010 to mark a further period of economic recovery, albeit in most instances with the growth upturn remaining moderate rather than very strong,” Richard Urwin, London-based head of asset allocation and economics at BlackRock Inc., which manages about $1.4 trillion, wrote in a note.

Bloomberg

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