Futures Rebound From Friday Selloff

Stocks are rebounding from a selloff late last week, supported by strong economic data overseas.

S&P 500 futures are up more than 0.4 percent. European indexes are rising by a similar amount, and have been gaining all morning. Asian markets declined in the overnight session, led by a 3.7 percent drop in Tokyo, after U.S. markets tumbled more than 1 percent on Friday.

China’s official-government purchasing managers index stood at 50.8 in May, beating the 50.1 consensus forecast. Europe followed with more positive data today as German, French, and Spanish PMIs all came in better than expected. An even-more important report follows at 10 a.m. ET when the U.S. Institute of Supply Management reports its monthly manufacturing index.

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