Stocks Gain; China Pumps ~$65B into Banking System (FXI) (UUP)

U.S. markets are positive today amid robust U.S. economic data and as China moved to spur growth in its own econmy.

The WSJ said the People’s Bank of China (PBOC) added RMB400 billion (about $65 billion) into China's banking system recently. The move will help banks in the region to increase lending, with hopes that it will reverse a recent slowdown in the country's growth.

Leaders in China, including president Xi Jingpin and Premier Li Keqiang, have accepted a slowed pace of growth for China, but are looking to make higher-quality gains going forward. Following a three-day meeting that ended Thursday, leaders vowed to press ahead with structural reforms which would make economic growth more sustainable, including the closure of high-pollution factories and trimming industrial overcapacity.

The iShares FTSE/Xinhua China 25 Index (NYSE: FXI) ETF is up 1.2 percent on the session. The Dow Jones Industrial Index is up 1.2 percent, Nasdaq up 1.4 percent, and S&P 500 up 1.3 percent.

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