Stocks are indicated higher today as the S&P 500 attempts to break its longest slide of the year.
Futures are up about 0.2 percent at the time of this writing. Europe is fighting back from small losses and is near its highs of the day. Asia was mixed, with Shanghai down 2 percent but Tokyo up more than 1 percent. Commodities and currencies paint a bullish picture, with oil and copper up while the safe-haven Japanese yen remains weak.
The S&P 500 has dropped five consecutive sessions, its longest decline since December. The losses have nonetheless been modest, representing a decline of just 2 percent from last week’s record levels. Price action has also remained bullish during that time, with small-caps and transports both outperforming the broader market, while the largest stocks have lagged.
— Option Monster