Stocks are rebounding today as investors bet that politicians in Washington will quickly end a budget stalemate that has closed the government.
S&P 500 futures rose about one-quarter of a percent, matching gains of a similar magnitude in Europe. Asian markets also climbed. Higher-beta countries, such as Thailand, Italy and Spain, led the advances on both continents, reflecting risk appetite by investors.
The S&P 500 was down 1 percent at its lows yesterday before rebounding to close above its 50-day moving average. The mix of price action was also mostly bullish, with transports and small-caps outperforming their larger and more stable peers.
— Option Monster