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Stocks rebound as global worries ease

Stocks are higher today, adding to Friday's gains as geopolitical tensions ease.

S&P 500 futures rose 0.3 percent, while most of Europe is up about 1 percent. Asian markets rallied overnight as well, led by Tokyo's 2 percent gain.

The rebound comes after the S&P 500 pulled back to its 100-day moving average for the first time since mid-April on Friday. It retreated on worries about potential Russian incursions into Ukraine and after the United States planned airstrikes against Iraqi rebels. There have also been signs of economic slowdown in Europe.

But other international indexes have rallied of late -- especially China, Hong Kong, Colombia and Korea. That has corresponded with gains in metal companies and coal miners that benefit from stronger Chinese demand. Our researchLAB market scanner also shows investors turning to retailers, heartened by several months of improving employment data. (See our related story on Dick's Sporting Goods.) Energy stocks, the former leaders, have gone from best to worst.

Attention will increasingly focus on the consumer, with retail sales due Wednesday and Wal-Mart Stores' earnings on Thursday. Kohl's, Nordstrom and J.C. Penney are also on the agenda, followed by other retailers like Home Depot, TJX and Lowe's next week.

Big-cap technology is another big theme this week, with Cisco Systems and NetApp announcing results Wednesday and Applied Materials on deck for Thursday. (researchLAB's interactive calendar offers a complete rundown.)

In company-specific news, Kinder Morgan rose more than 20 percent after announcing a deal that would combine its various publicly traded divisions into a single entity. Tata Motors rose on strong quarterly results. Priceline fell almost 2 percent on a weak outlook. MannKing soared 29 percent after licensing its Afrezza inhalable insulin to Sanofi.

Commodities and currencies are little changed.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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