Buoyancy in commodities, particularly oil, helps lift stocks overseas, with markets in Asia and Europe marking sharp gains. Those positive vibes are resonating in the US now, with premarket futures pointing to a strong open.

GM’s bankruptcy is old news as far as investors are concerned, though it’s probably cavalier to think there aren’t a host of ugly consequences lurking in the wake of GM’s bank-out.

Economic data calendar is busy this week; April personal income & spending due at 8:30am; April construction spending, May ISM manufacturing index set for 10:00am. May auto sales figures also due for release today. Also on tap this week: pending home sales, factory orders and May unemployment report Friday.

Source: Market Talk