U.S. equity futures are up 1% on top of yesterday's strong rally.
The market willed it, and the Chinese government acquiesced. China announced further economic stimulus in an attempt to reaccelerate the country's lagging economy. Chinese officials said they plan to cut taxes for small businesses and increase spending on major infrastructure projects. The Shanghai Composite climbed 2.3% on the news, but volume continues to be light.
Japan joined the action, as prime minister Abe promised to cut tax rates by 330 basis points -- from 35% -- in an effort to rekindle consumer spending. The Nikkei Index popped 7.7% on the news.
Wall Street will be focused on today's product meeting at an Apple (AAPL) media event, where the next generation of iPhone, the 6S, is set to be released.
Some earnings reports of note today include: Conn's (CONN), HD Supply (HDS), Barnes & Noble (BKS), Hovnanian Enterprises (HOV), Quiksilver (ZQK), Palo Alto Networks (PANW), Box (BOX), and Krispy Kreme Doughnuts (KKD).
At 8:55 a.m. ET, the Redbook weekly sales report is released, and at noon the Department of Energy will publish its short-term energy outlook. At 4:30pm ET, the API weekly oil inventories will hit the wires.