Stocks Climb as Buyers Step In

Stocks are rebounding today as buyers step in following a pullback yesterday.

S&P 500 futures rose two-tenths of a percent and have been climbing in the last hour. Most European indexes are up by more than half a percent and are also near session highs. Asia was mostly negative in the overnight session amid continued selling in China. Hong Kong fell 2 percent, while Seoul and Shanghai declined 1 percent. Tokyo remained closed for the holidays.

The S&P 500 declined 0.9 percent yesterday, pulling back from a record close of 1848 on New Year’s Eve. The index is now attempting to hold support at its 10-day moving average, which could make chart watchers think its bullish momentum remains intact.

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