The Dow Jones industrial average was up 1.52 % closing at 10,058.64. The Standard & Poor’s 500 Index increased 1.30% to close at 1,070.52. The Nasdaq Composite Index climbed 1.17% to close at 2,150.87. The FTSEurofirst 300 index closed 0.2% higher at 980.96 points. The Nikkei added 31.09 points closing at 9,963.99. The Topix inched up 0.2 percent to close at 883.50.

In December, German exports continued their rise increasing by 3% from November, which indicated that foreign trade should support economic growth. Imports reversed the previous month’s decline to grow 4.5% after having a 6.2% drop in November. In December, Germany’s trade surplus narrowed to €13.5bn (£11.9bn) from €17.2bn.

Due for release today is the AUD Home Loans m/m, CNY Trade Balance, GBP Manufacturing Production m/m, GBP BOE Gov King Speaks, GBP BOE Inflation Report, CAD Trade Balance, USD Trade Balance, USD Fed Chairman Bernanke Testifies.

By Greg Secker