Stocks Attempt To Stage A Rebound

Stocks are trying to rebound today after their first drop in a week yesterday.

S&P 500 futures rose about one-quarter of a percent, while Europe is posting similar gains. The main catalyst for the buyers appears to be coming from Asia, where Tokyo and Shanghai indexes rallied overnight amid positive Japanese economic data and signs that Chinese authorities will reduce economic regulations.

The moves follow a 0.5 percent drop by the S&P 500 yesterday as worries that the Federal Reserve will slow stimulus measures caused traders to take profits. It had posted record closing highs in the previous four sessions.

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