The Chinese selloff turned into a Chinese rally overnight as the better performance in the HSBC Flash PMI, which printed at 50.9 yesterday, drove stocks higher around the world and overshadowed what were the more mixed results in Europe particularly France. So at the close the Dow was up 91 points of 0.59%, the Nasdaq rose 0.51% while the S&P 500 rose a more subdued 0.32%. Of note in US data jobless claims printed at 350,000. In Europe stocks were higher with the FTSE up 0.58%, the DAX up 0.69% and the CAC up 0.36%. In Milan the FTSEMIB rose 1.28% while in Madrid the IBEX was up 0.88%. (full story)