Markets Are Higher After HUGE Night In China

sparkler fireworks

[credit provider=””>Jason Hutchens via Flickr”]

RISK ON!The tone of the day has been set by China, where beaten down stocks finally had a good day, rallying nearly 3%.

According to Bloomberg, a rally of the driver was a move by the Chinese government to let insurers invest more in bank stocks.

Europe is higher across the board.

Italy is up nearly 1%.

Spain is up 0.8%.

Germany is up 0.5%.

US futures are up modestly.

Helping things: A significant jump in German services PMI.

There’s lots of data in the US today, including services ISM and the ADP jobs report.