U.S. stock futures were modestly higher ahead of the open.
There had been concerns that the Chinese economic slowdown was intensifying.
While the latest data show China's economy grew at a slower pace in the second quarter -- with gross domestic product expanding by 7.5% over the previous year -- the performance matched the government's target and the consensus estimate from private forecasters.
"While confirming the inevitable slowing of the emerging market's expansion, [there's] a collective sigh of relief that it wasn't any weaker," noted Mike van Dulken, head of research at Accendo Markets
China has averaged growth of around 10% a year in the past three decades.
In company news, the stock price for Leap Wireless International ( jumped 115% in premarket trading Monday, after )AT&T (Fortune 500) said on Friday that it , plans to acquire the prepaid wireless provider for about $1.2 billion.
Bank earnings remain in focus Monday. Citigroup (Fortune 500)'s share price rose 2% in premarket trading after the bank reported quarterly , net income of $4.2 billion, or $1.34 per diluted share, and revenue of $20.5 billion, driven by lower loan losses.
On the economic front, U.S. retail sales grew 0.4% in June, according to the Commerce Department. Economists surveyed by Briefing.com had forecast a 0.7% rise.
Boeing's (Fortune 500) stock edged up 1% after British investigators said that a Dreamliner fire at London Heathrow Airport last Friday was not linked to its batteries, which have created , problems in the past.
Major European markets gained less than 0.5% in morning trading, while the main Chinese markets ended with gains. The Shanghai Composite index and the Hang Seng index popped up by 1% and 0.1%, respectively.
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|30 yr fixed||4.52%||4.38%|
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