U.S. stock futures rose sharply on Tuesday as Chinese stocks rebounded in the wake of data showing that China’s economy grew for 2015 at its slowest pace in a quarter of a century. Dow Jones Industrial Average futures surged 210 points, or 1.3%, to 16,123, while S&P 500 futures jumped 25.20 points, or 1.3%, to 1,900. Nasdaq 100 futures gained 56.75 points, or 1.4%, to 4,197.75. U.S. stock and bond markets will reopen after closing Monday for the Martin Luther King Jr. holiday. The Shanghai Composite rose 3.2% after weak GDP data triggered expectations of stimulus from Beijing. U.S. crude oil rose 32 cents, or 1%, to $30.70 a barrel, while Brent crude added 73 cents, or 2.7%, to $29.27 a barrel. Over the weekend, sanctions on Iran were lifted, and the oil market is now braced for an influx of supplies from the country.
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