Stocks are poised to open higher today as a three-day pullback draws buyers to the market.
S&P 500 futures are up about one-third of a percent as of this writing, matching similar moves in Europe. Asian stocks were mixed overnight, with Japan’s Nikkei closed for a holiday but China’s Shanghai Composite surging more than 2 percent.
Sentiment is recovering from worries about Cyprus, where European officials wanted to fund a bank bailout by raiding private accounts. The measure met with stiff opposition, likely forcing policymakers to take a gentler stance. That’s allowing the larger bullish trend to continue as an improving global economy draws capital into equities following years of bearishness.
— Option Monster