Stocks Rally, Dow Jumps 390 Points

U.S. stocks ended sharply higher on Tuesday, with the main indexes posting their second-largest daily gains of the year, on hopes of more stimulus measures in China and on strong German trade data. The Dow Jones Industrial Average jumped 390.30 points, or 2.42%, to 16,492.68. The S&P 500 rose 48.19 points, or 2.51%, to 1,969.41. The Nasdaq Composite was up 128.01 points, or 2.73%, to 4,811.93.

China’s imports shrank far more than expected in August, falling for the 10th straight month, though exports fell less than expected. Analysts said the imports data could lead to further policy easing from the Chinese government in coming months.

The U.S. Federal Reserve should hold off on raising interest rates until the global economy is more stable, the World Bank’s chief economist said in an interview with the Financial Times published on Tuesday.

Dutch drugmaker Mylan says it will launch a $27.14 billion offer for Irish generic drug and ingredients maker Perrigo on Monday.

Dutch brewer Heineken NV said Tuesday it has taken a 50% stake in Lagunitas Brewing Co. and plans to expand the California-based brewery into the world’s first global craft brand by exporting Lagunitas beers to countries such as Germany and France.

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