UPDATED  7:17 am ET

STOCKS – European stocks advanced, rebounding from yesterday’s decline, as a report showed China’s economy expanded at a better-than-expected pace, meeting the government’s target for growth this year. U.S. index futures and Asian shares were little changed.

BONDS – Treasuries traded sideways, before Federal Reserve Chair Janet Yellen resumes testimony to lawmakers after saying yesterday monetary stimulus was still required.

COMMODITIES – West Texas Intermediate rose from the lowest price since May as crude stockpiles shrank in the U.S. Brent recovered from a three-month low as China’s economic growth exceeded forecasts.

CURRENCIES – New Zealand’s dollar slumped the most in seven weeks after the consumer price index increased less than economists forecast and a gauge of dairy prices dropped to the lowest level since 2012.

ECONOMIC DATA – US PPI m/m and CAD Manufacturing Sales m/m due at 8:30, US Industrial Production m/m at 9:15, Fed CAD BOC Monetary Policy Report and Chair Yellen Testifies at 10:00, Crude Oil Inventories at 10:30, BOC Press Conference at 11:15 ET.