This morning, the S&P 500 Index e-mini futures (ES-U3) are trading higher by 7.50 points to 1644.25 per contract. It seems that the major stock indexes are getting a big lift from the stronger PMI’s (Purchasing Managers Index) numbers out of Europe and China. Today, all of the leading European stock indexes are moving sharply higher. The stock futures are even rallying higher despite the yield on the 10-year U.S. Treasury Note reaching 2.92 percent. Traders should remember, the major stock indexes in the U.S. are very oversold and the markets will usually look for any reason to bounce from the technical condition.