China stocks just had their best day in 16 years, sending related U.S. ETFs soaring

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The Shanghai Composite rallied 8.06% in its best day since September 2008.

rallied 8.06% in its best day since September 2008, and capping a nine-day win streak for the index. It ended September up 17.39%, its first monthly gain in five and its best monthly performance going back to April 2015.closed up 10.9%, its best day since April 1996. It gained 24.8% in September, its best month going back to April 2007.

"While we don't know for sure if there's going to be enough to really kick the economy back into gear, it's certainly the right first step," said Art Hogan, chief market strategist at B. Riley Securities."I think the impact of a strengthening China can't be underestimated."

 

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