Stocks Rebound After Another Pullback

Equities are rebounding today from another sharp drop yesterday.

S&P 500 futures are up about 0.3 percent, while most European indexes are posting slightly larger gains. Asian markets were mixed to lower overnight after yesterday’s selloff in the United States.

The 1.4 percent pullback brought the S&P 500 down to its 50-day moving average for the first time this year and occurred just one week after the index touched a new all-time high above 1590. In addition to normal profit-taking, the selling has resulted from worries about slow growth in China and a mediocre start to the first-quarter earnings season.

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