US STOCKS-Wall St set to open higher as global bond selloff eases
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By Tanya Agrawal
May 15 (Reuters) - U.S. shares were set to open higher on Friday as a selloff in the global bond market eased after purchases by the European Central Bank, lifting stock index futures.
The S&P 500 rose 1.08 percent to end at 2,121.1 on Thursday, exceeding its previous all-time closing high of 2,117.69 on April 24, while the Nasdaq Composite had its strongest day since January.
"As we see volatility subside in the bond market and what seems to be an orderly withdrawal from the fixed-income market before a shift in policy, there is less fear among equity market investors," said Andrew Barber, chief market strategist at Eagleview Capital in Delaware.
Barber said ECB President Mario Draghi clearly sent a message at the IMF meeting on Thursday that quantitative easing in Europe is not going to stop any time soon. Continuación...