GLOBAL MARKETS-China data steadies stocks as U.S. earnings get underway

* China Q2 GDP matches consensus, monthly factory data
upbeat
* MSCI world index nears Feb 2018 high
* Wall Street little changed; financials weigh

(Updates with close of U.S. markets, oil settlement prices)
By Chuck Mikolajczak
NEW YORK, July 15 (Reuters) - A gauge of global stocks rose
modestly on Monday after economic data from China came in as
expected, but equities on Wall Street slipped on weakness in
financials in the wake of Citigroup's earnings report.
China's second-quarter annual GDP growth rate fell to a
27-year low of 6.2%, as expected, while June reports on
industrial production, retail sales and urban investment were
above forecasts. On Wall Street, major indexes were near flat, with the S&P
kept in check after its first close above the 3,000 mark by a
0.5% decline in financial .SPSY stocks following Citigroup
C.N earnings. The bank's shares were last off 0.06% after
losing as much as 2.4%. "It's definitely a wait-and-see environment," said Oliver
Pursche, chief market strategist at Bruderman Asset Management
in New York.
"If (results) are better than expected, then we can see
another leg up."
The Dow Jones Industrial Average .DJI rose 26.86 points,
or 0.1%, to 27,358.89, the S&P 500 .SPX gained 0.52 point, or
0.02%, to 3,014.29 and the Nasdaq Composite .IXIC added 14.04
points, or 0.17%, to 8,258.19.
Equities have rallied since a sell-off in May as investors
have grown more confident the U.S. Federal Reserve will cut its
key interest rate by at least a quarter point late this month.
Improving economic data, however, could complicate the Fed's
ability to lower rates.
Corporate earnings are also moving into focus with a slew of
banks scheduled to follow Citi this week, including JP Morgan
JPM.N , Goldman Sachs GS.N and Wells Fargo WFC.N . According
to Refinitiv data, S&P 500 companies' earnings are expected to
show a decline of 0.3 percent for the quarter.
Other major companies scheduled to post results this week
include Netflix NFLX.O , Microsoft MSFT.O and Honeywell
HON.N .
The pan-European STOXX 600 index .STOXX rose 0.23% and
MSCI's gauge of stocks across the globe .MIWD00000PUS gained
0.14%. Germany's Economy Ministry said it expected the economy to
turn in a weak second quarter and said significant risks remain,
buoying expectations the European Central Bank would take
further easing measures at its meeting next week. Germany's DAX
.GDAX closed up 0.52%. Later in the week, U.S. retail sales and industrial
production data will provide clues about the health of the
world's largest economy. The Fed will release its "Beige Book"
on Wednesday and investors will look to it for insight on how
trade tensions are affecting the business outlook.
U.S. Treasury yields were lower with investors eyeing the
retail sales data due on Tuesday. Benchmark 10-year notes
US10YT=RR last rose 5/32 in price to yield 2.0887%, down from
2.106% late on Thursday. Oil prices lost ground on signals the impact of Tropical
Storm Barry on the U.S. Gulf Coast would have a short-term
impact on production. U.S. crude CLcv1 settled down 1.05% at
$59.58 per barrel and Brent LCOcv1 was last at $66.48, down
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Global assets in 2019 http://tmsnrt.rs/2jvdmXl
Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
MSCI All Country Wolrd Index Market Cap http://tmsnrt.rs/2EmTD6j
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