GLOBAL MARKETS-China data supports stocks as U.S. earnings season begins

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

(Updates with close of European markets)
By Chuck Mikolajczak
NEW YORK, July 15 (Reuters) - A gauge of global stocks edged
higher on Monday after economic data from China came in as
expected, although stocks on Wall Street slipped as financials
showed some weakness 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
0.6% decline in financial .SPSY stocks in the wake of
Citigroup C.N earnings. The bank's shares were last up 0.13%
after losing as much as 2.4%. "We had Citigroup earnings, which were good and the stock is
up modestly, the rest of the other financials are a bit down
today," said Tim Ghriskey, chief investment strategist at
Inverness Counsel in New York.
"This is primarily earnings watch and earnings anticipation.
Generally, what I see as you head into right before earnings and
the early part of earnings is the market tends to be flat."
The Dow Jones Industrial Average .DJI fell 12.05 points,
or 0.04%, to 27,319.98, the S&P 500 .SPX lost 1.34 points, or
0.04%, to 3,012.43 and the Nasdaq Composite .IXIC added 9.05
points, or 0.11%, to 8,253.20.
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
0.10%. 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
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 Federal Reserve 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 4/32 in price to yield 2.0939%, from
2.106% late on Thursday. Oil prices were little changed in the wake of the mixed
China data before heading lower. U.S. crude CLcv1 fell 1.1% to
$59.55 per barrel and Brent LCOcv1 was last at $66.49, down
0.34% on the day. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
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
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>