The S&P 500 is up 7 points to 1967 shortly after the open. The level to watch is last week’s record high of 1968.17.
S&P 500 daily
Flows out of bonds and into stocks appear to be helping. On the fundamental side the good auto sales numbers are helping sentiment along with the China PMI and decent capex component in the Tankan.
The major hurdle today is the ISM manufacturing index due at the top of the hour. The consensus is for a rise to 55.9 from 55.4.