Global markets gained Monday following stronger-than-expected economic data from China and a decline in oil prices, which boosted investor risk appetite across asset classes.
Bitcoin traded near $82,500, up 0.7% since midnight UTC and 1.3% over the previous 24 hours. Nasdaq futures rose more than 1%, while major Asian stock indexes advanced after last week's technology-led losses. Japan's Nikkei gained 1.8% and South Korea's Kospi advanced 0.6%.
China's gross domestic product grew 4.5% year-on-year in the third quarter, according to data released Monday by the National Bureau of Statistics, faster than the second quarter's 4.3% pace. Retail sales of consumer goods rose 1.1%, more than double the 0.5% increase that was expected and up from 0.4% the previous month.
Chinese stocks rose 0.3% on the session. Gold remained largely unchanged near $4,180, while the Dollar Index held near Friday's lows, below 102.
Oil prices fell on both sides of the Atlantic, reversing some of last week's gains. The decline was attributed partly to expectations that President Donald Trump's Russia waiver would boost supply, though geopolitical risks in the Middle East persist.
A sustained decline in oil could ease inflation concerns and potentially clear the way for future interest rate cuts from the Federal Reserve. The central bank is expected to keep its benchmark borrowing cost unchanged in the 4.75% to 5% range this month, following a 25 basis point increase last month.
