Stocks Hover Near Long-Term Highs

Stocks are hovering after yesterday’s rally brought the S&P 500 within striking distance of a five-year high.

Futures on the benchmark index are little-changed, rebounding from earlier losses. Europe is following a similar path, with most of its markets now up by less than 0.2 percent.

Asia was mostly lower after quickening inflation in China raised worries about the world’s No. 2 economy. Japan’s Nikkei was the main standout, rallying 1.4 percent after Prime Minister Shinzo Abe announced a big stimulus package. That also sent the yen lower, which can support asset prices.

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