NEW YORK (TheStreet) -- The market's persistent resilience to negative headlines should continue to surprise investors who won't let go of their belief that the bull market is about to hit a road bump.
U.S. stocks futures were trading near their highest levels in the premarket session on Monday as jitters over Ukraine eased a bit amid a heavy week for economic events.
Dow Jones Industrial Average futures were ahead by 88 points, or 89.09 points above fair value, to 16,719. S&P 500 futures were ticking up 10.25 points, or 11.19 points above fair value, to 1,962.75. Nasdaq futures were higher by 20.8 points, or 21.59 points above fair value, to 4,005.8. European markets were also staging a broad recovery.
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The major U.S. stock markets edged off their worst levels of the day in the final hour of trading Friday and finished the week higher as fears about Russia-Ukraine were balanced by signs that the U.S. economy appears to be on track for a solid, sustained recovery.
"Both the intermediate and longer-term technical picture of the market remains bullish. We have not seen any uptrend violations that would suggest otherwise," said Piper Jaffray technical market analyst Craig Johnson.
Ceasefire hopes ensued Monday after Russia said that Russian and Ukranian foreign ministers who met in Berlin over the weekend have reached an agreement to allow Moscow's controversial humanitarian aid convoy into rebel held territory. The White House said it has not been able to confirm the reports from Friday that Ukrainian troops partially destroyed a Russian military convoy.