The bullish momentum continues today as investors shrug off weak economic data and focus on strong corporate earnings.
S&P 500 futures are up about one-third of a percent and have been gaining in the last hour, while European indexes are surging 1 percent to 2 percent across the board. Most Asian bourses fell overnight after weak manufacturing data in China. European reports also missed expectations.
The main catalysts driving stocks higher this morning appear to be strong momentum in the S&P 500 and a series of positive corporate results. The index bounced at key its 50-day moving average on Thursday and has working its way higher since, while companies such as United Technologies, Netflix, and Travelers are climbing on strong results.
— Option Monster