A look at the day ahead in U.S. and global markets from Mike

Dolan

A rare positive surprise from Chinese industry and retail has

unnerved interest rate and energy markets some more, upping the

stakes at this week's major central bank meetings.

Although stock markets continue to sidestep the rebound in

borrowing rates over the past week - moves seeded by both

stubborn inflation readouts and brighter growth and earnings

signals - the prospect of a more significant Chinese recovery

may add pressure to the delicate balance.

China's factory output and retail sales beat expectations in

the January-February period, according to official data released

on Monday, marking a solid start for 2024 and offering relief to

policymakers fearful of the drag from the ongoing property bust.

Industrial output rose 7% in the first two months - the

quickest growth in almost two years. Retail sales slowed to 5.5%

from 7.4% in December but also slightly beat forecasts.

Chinese stocks