Stocks Jump; China GDP Whisper Number Fuels Rally

12-Apr (WSJ Blogs) — Stocks are jumping this morning, yet there doesn’t appear to be many fundamental reasons for the sudden uptick. Jobless claims stunk and PPI data didn’t exaclty sway opinions on inflation or the Fed’s stance on more accommodation.

But several traders are passing notes around saying the whisper numbers for China’s first-quarter GDP report may be much better than initially anticipated.

…For what it’s worth, Peter Boockvar of Miller Tabak says these rumors are being misinterpreted:

The Chinese govt researcher that supposedly commented on China GDP said he thought we get 9% GDP growth for FULL YEAR 2012 and that he only expected Q1 to be 8.4-8.5% which is in line with expectations.

Nevertheless, all this talk has helped the Dow notch a triple-digit gain this morning.

[source]

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