Futures are rebounding (SPY, DJI, IXIC, QQQ, IWIM, USD, DXY, USO, WTI, OIL, VDE, CAD)

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Stocks opened higher and were rebounding Wednesday morning after a close lower in the prior session ended the best streak of gains in months.

Which is kind of fitting, since it’s the seventh birthday of this bull market.

Near 9:37 a.m. ET, the Dow was up 44 points, the S&P 500 was up 5 points, and the Nasdaq was up 7 points.

The Dow closed down 109 points on Tuesday after a quiet day as far as economic data was concerned.

MBA mortgage applications crossed this morning, and were shown to rise 0.2% last week, rebounding from a 4.8% drop in the prior week.

Wholesale Inventories rose 0.3% in January, the latest data showed, beating the forecast for a drop by 0.2%.

And, the Energy Information Administration said crude oil inventories rose 3.88 million barrels last week, which was less than expected.

Crude oil prices are also rising again like stocks. West Texas Intermediate crude futures for April delivery in New York rose nearly 4% to as high as $38.01 per barrel.

In company news, the Chipotle health scare is not over. A Chipotle restaurant near Boston was temporarily closed Tuesday after some workers fell sick. The company’s shares were down about 5% in morning trading.

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