Byline: S. Kamal Hayder Kazmi
Wall Street's three main indexes rose more than 1% on Friday, clawing back some losses from a brutal selloff this week on hopes of more stimulus from central banks to perk up slowing growth.
Stocks got a boost after a report that Germany's government would be prepared to ditch its balanced budget rule and take on new debt to counter a possible recession.
Earlier, China's state planner said it would roll out a plan to boost disposable income this year and in 2020 to spur consumption as the economy slows.
Traders are betting on a one-in-five chance of a 50 basis point interest rate cut from the Federal Reserve, while expecting aggressive easing from the European Central Bank at its policy meetings in September.
At 12:36 p.m. ET, the Dow Jones Industrial...