Stocks Rising Again Before Payroll Data

Stock futures are advancing this morning before the key non-farm payrolls report at 8:30 a.m. ET.

The S&P 500 has been climbing in the last hour and is indicated higher by about one-third of 1 percent, while the Nasdaq 100 and Russell 2000 small cap indexes are showing slightly larger gains. Most overseas markets gained as well: France’s CAC 40 is up almost 1 percent, while Japan’s Nikkei climbed half a percent overnight and Shanghai rallied 1.4 percent overnight.

The S&P 500 has been sitting at 1500 for the last week after a scorching rally that began on Dec. 31. Few sellers have come forward to knock it down from that level, and buyers have kept pullbacks extremely shallow. Investors have mostly looked past weak economic news, such as a poor gross domestic product report on Wednesday and a disappointing Chinese manufacturing report this morning.

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