Stocks Up on China and Europe Data

U.S. stock indexes are rebounding on strong economic data overseas following a roller-coaster ride that ended lower yesterday after the Federal Reserve released its latest minutes.

S&P 500 futures are up about 0.25 percent, while Nasdaq 100 futures are gaining 0.5 percent at the time of this writing. Both spiked into positive territory with about 90 minutes left to trade yesterday and then gave up all of those gains by the closing bell while Treasury rates continued to rise.

Equities rose this morning after purchasing managers indexes beat forecasts in China and Europe. European bourses are up across the board as Germany’s DAX and France’s CAC rise about 1 percent, with the U.K. FTSE not far behind. Hong Kong’s Hang Seng reversed course on the Chinese PMI number overnight and finished higher by 0.36 percent, while Japan’s Nikkei closed lower but cut early losses.

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