BANGKOK (AP) — U.S. stock markets are closed today but international exchanges rose after a survey showed that China's manufacturing expanded for the first time in 13 months.
It's seen as rare good news for the struggling global economy. Sentiment also benefited from a cease-fire agreement between Israel and Hamas in the Gaza Strip.
Analysts at HSBC say the recovery is still in its early stages and remains fragile.
Investors are also expecting a resolution to the U.S. "fiscal cliff" of tax increases and government spending cuts that are set to take effect Jan. 1 unless Congress and the Obama administration reach a deal first.
Benchmark crude oil rose and is inching toward $88 per barrel. The dollar fell against the euro and the yen.