1. Dow futures rally 300 points
U.S. stock markets pointed to strong gains at the open on Tuesday, as traders returned to their desks from the Labor Day weekend in an upbeat mood.
During early morning hours in New York, the blue-chip Dow futures surged 286 points, or 1.78%, the S&P 500 futures jumped 36 points, or 1.86%, while the Nasdaq 100 futures indicated a gain of 78 points, or 1.85%.
U.S. markets were closed on Monday for the Labor Day holiday.
2. China trade picture remains grim in August
Data released earlier showed that China's trade surplus widened to $60.2 billion last month from $43.0 billion in July, compared to estimates for a surplus of $48.2 billion.
Chinese exports slumped 5.5% from a year earlier, better than forecasts for a decline of 6.0%, while imports plunged 13.8%, far worse than expectations for a drop of 8.2%.
The disappointing data raised expectations of more policy easing from China's central bank in the coming months.
3. Wild ride continues in China
China's equity markets witnessed yet another choppy session which featured wild swings. The Shanghai Composite rallied more than 4.5% in the last hour of trade to erase the session's losses and end up 3%.
Volatility in Chinese stock markets in recent months has been a key theme for global markets amid concerns the world's second largest economy may be slowing more than expected.
4. Nikkei erases 2015 gains
Japan's blue-chip Nikkei stock index closed down 2.5% on Tuesday, moving into negative territory for the year, as weak Chinese trade data underlined concerns about slowing demand for Japanese exports from China.
The Nikkei has fallen 16.5% since its June peak, nearing bear market territory.
5. European markets eye best session in a week
European stock markets rose sharply on Tuesday, as surprisingly upbeat trade data from Germany helped sooth some concerns about slowing global growth. Germany's DAX, France’s CAC 40 and London's FTSE 100 were all up almost 2%.
German exports climbed 2.4% in July to hit a record high, while imports rose 2.2%, also hitting an all-time high.
The impressive trade numbers indicated that Germany's economy remains strong, despite recent concerns over a China-led global economic slowdown.