Stocks up With S&P 500 at Key Level

Stocks are eking out small gains this morning as the S&P 500 clings to its key 200-day moving average.

U.S. equity index futures rose by about one-third of 1 percent, and have been improving as the morning progresses. European indexes are also inching higher, while Asian stocks were mixed in the overnight session.

The S&P 500 has been dropping for the last month as investors take profits after a big third-quarter rally. They’ve been pricing in the possibility of recession in Europe and higher taxes in the United States, but they are also starting to notice evidence of accelerating growth in China.

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