Stocks Bounce As Cyprus Fears Ease

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.

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