TOPWRAP 8-Investors cheer data, US to push reforms this year
* Obama to seek financial reforms this year - sources
* Global stocks, oil get boost from U.S. jobs data
* U.S. banks rush to sell stock after "stress tests"
* German exports rise, industrial output stabilizes
* Canada posts surprise jobs jump (For full crisis coverage, double click on [nCRISIS])
WASHINGTON, May 8 (Reuters) - Signs the global downturn may be easing grew on Friday with U.S. jobs and German exports data, as Washington looked set to push tighter financial rules this year now that "stress tests" on U.S. banks are done.
Investors around the world took heart after U.S. regulators ordered 10 of the country's 19 biggest banks on Thursday to raise nearly $75 billion of capital -- less than some analysts had estimated -- to bolster themselves against further shocks.
In the next step, U.S. President Barack Obama's team plans to propose legislation to Congress by June calling for the Federal Reserve to regulate "systemic risk" in the economy, three trade association sources said. [ID:nN08510006] Continued...
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