The weekend is over and stocks are surging

The weekend* is over and stock futures in the US are higher.

At around 7:15 p.m. ET Monday night, Dow futures were up more than 220 points, S&P 500 futures were up about 29 points, and Nasdaq futures were up 73.

(*US markets were closed on Monday to observe the Presidents Day holiday. Asia and Europe were open.)

Markets in Asia and Europe, meanwhile, were open Monday and stocks rallied across the board. US futures are following higher.

Japan’s Nikkei index rose an incredible 7% on Monday after falling 13% last week in one of the index’s worst 5-day performances in years.

Stocks in Europe were also higher Monday with the DAX in Germany gaining more than 2.5%, the London’s FTSE rallying 2%, the CAC in Paris rising 3%, and the Euro Stoxx 50 rising 2.9%.

It’s a busy, holiday-shortened week in the US economy coming up with data on industrial production, the housing market, and inflation filling in some key gaps around the positive data we got last week.

The readings this time around, however, could be more mixed.

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