Q2 GDP numbers from China that met 7.5% forecasts left the market breathing a collective sigh of relief this morning, with concerns of a significant slow-down in the world’s second largest economy seen as a potential hurdle for the recent equity market bounce. Traders may now set the crosshairs on all-time highs in the US indices, with the levels within touching distance. Given that QE tapering and Eurozone political travails have apparently returned to the back burner, bulls may seek impetus from corporate earnings, with a string of US blue chips due to provide updates this week. Back in the UK the news from China has provided a significant boost for cyclical names early on, with financials dominating the FTSE performance tables. The broker community have been rewarded for their faith in fund manager Schroders, who have rallied 20% from the June lows and top the pile of FTSE 100 stocks in the green this morning. Sector peers Aberdeen Asset Management haven’t benefitted from any positive read-across, sitting at the foot of the FTSE down 2.6%. Today’s major macro data point arrives at 13:30 in the form of US retail Sales, with growth of 0.6% expected on the headline ex-Autos measure. Numbers from Citigroup could very well set the tone for financial stocks in the afternoon session, with EPS of $1.17 forecast for Q2.CMC Markets is an execution only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.