The U.S. stock market headed for a higher opening Tuesday as markets around the globe bounced back from the previous day's sell-off. Stocks in Asia rose overnight, while all major European indexes gained in morning trading there. Commodities like oil and gold rebounded as well, while the dollar lost ground against other major currencies. Investors appear to be adhering to a well established trend _ buying up stocks after brief selloffs so as not to miss out on a continued rally. With stocks up more than 50 percent since bottoming in March, analysts have been calling for a pullback, warning that uninterrupted gains are unsustainable. But such a pullback, they say, doesn't have to be significant. For weeks, any dips in stocks have been moderate and short-lived. The consensus on Wall Street is that the economy, despite ongoing challenges like unemployment, is healing. The question is not only how strong the recovery will be, but whether the stock market's massive, nearly seven-month advance accurately reflects such a recovery. On Tuesday, investors will get more data on the housing industry when the Federal Housing Finance Agency releases its index on home prices in July. In addition to the week's economic data, investors will be looking for more signals from the government as the Federal Reserve begins a two-day rate-setting meeting on Tuesday. Investors are hoping the Fed will offer up a clearer picture of the economy's recovery, as well as some indication of when it may decide to raise interest rates. The Fed is widely expected to keep rates at their record low of near zero for the time being. Ahead of the market's open, Dow Jones industrial average futures rose 65, or 0.7 percent, to 9,783. Standard & Poor's 500 index futures gained 7.30, or 0.7 percent, to 1,067.70, while Nasdaq 100 index futures rose 11.25, or 0.7 percent, to 1,739. In late morning trading in Europe, Britain's FTSE 100 was up 0.9 percent, Germany's DAX index jumped 1.2 percent, and France's CAC-40 rose 0.9 percent. Earlier Tuesday, Hong Kong's Hang Seng index added 1.1 percent. Japan's markets were closed for a public holiday. Bond prices were mixed ahead of another round of auctions. The yield on the benchmark 10-year Treasury note, which moves opposite its price, inched up to 3.50 percent from 3.49 percent late Monday. The dollar weakened against other major currencies, while gold prices rebounded after three days of declines. Oil prices rose $1.08 to $70.79 a barrel in premarket trading on the New York Mercantile Exchange.

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