Stocks Higher on Bullish Momentum

Stocks are poised to open higher again today as momentum remains bullish following a bounce last week.

S&P 500 futures are up about one-tenth of a percent but is below its previous highs of the morning. The index surged more than two percent in the two preceding sessions. Japan’s Nikkei is also helping sentiment, rallying 5 percent after the country’s first-quarter economic-growth estimate was raised.

Europe is mixed, with Germany’s DAX up almost 1 percent, but other indexes are little-changed. Shanghai dropped more than 1 percent after Chinese exports and loan-growth lagged in May.

The S&P 500 bounced sharply on Thursday and Friday after pulling back to its 50-day moving average for the second time in as many months. The index has been climbing into record territory as years of bearish sentiment shifts and institutional investors start movin money away from bonds. Transportation stocks led the gains both days.

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