Friday's Late Rally Is Fueling Stocks This Morning

Stocks look set for a strong opening this morning, but nobody knows how strong the wind will blow.

At 8:59 a.m. EDT, the S&P 500 futures were up 12.4 points, about 11 points above fair value, indicating some buying sentiment in the early going. The Nasdaq 100 futures had been climbing steadily all morning and were 73 points higher, indicating relatively strong buying interest for large-cap tech stocks at the open.

The market may be trying to follow through on its late Friday afternoon rally, which left both the Dow Jones Industrial Average and the Nasdaq Composite Index just below previous closings that day. But whether this week will be like last week, when pre-open rallies quickly lost steam after the bell and the market jockeyed through wild gyrations on anemic volume, remains to be seen. ...