U.S. and Europe Stocks Advance Again

Stocks are higher this morning, continuing to recover from a five-week selloff.

S&P 500 futures are up almost half a percent and near their highs of the morning, while European indexes show fractional gains. Asian bourses were led by a 3 percent rally in Tokyo overnight.

Equities have been trying to recover from their biggest drop of the year after bottoming on Monday. Economic data has mostly been positive in the United States and Europe, but the market has been worried about weakness in emerging markets and the possibility of higher borrowing costs as the Federal Reserve reduces asset purchases.

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