U.S. equities tracked global indices higher
U.S. equities tracked global indices higher after a solid rebound in Asia saw the Shanghai Comp rally 2.7% and the HK Hang Seng jump 1.5%, while Japan's Nikkei rose 0.7%. Backed by Japan's Softbank, China's Alibaba announced plans to reorganize and combine its food units, which was embraced investors. Another solid 1% gain in oil prices also helped give the energy sector a lift as the Iran sanctions kick in again and reduce supply. That bullishness spread to Europe, with the Euro Stoxx 50 +0.7% and the German DAX +0.7%, though German production slowed and its trade surplus narrowed. The Dow is 88-points higher, S&P gained 6-points and NASDAQ is 19-points firmer in pre-open trade. The VIX equity volatility index dove 2.3% to 10.52--lowest since February--before reclaiming 11.0. In earnings news, Office Depot surged over 7% after a beat, Marriott skidded 3% after a revenue decline and Disney is up ahead of its report after the close. Investor Icahn pressed Cigna shareholders to reject a $54 B merger with Express Scripts. JOLTS, consumer credit and 3-year note auction are on tap today.