Morning Movers: Stocks Surge as China Cuts Rates; Caterpillar Jumps

Stocks look set for a much higher open this morning after China’s central bank slashed interest rates to help boost economic growth. Associated Press S&P 500 futures have jumped 0.8%, while Dow Jones Industrial Average futures have climbed 0.8%. Nasdaq Composite futures have gained 0.8%. Ross Stores (ROST) has gained 5.4% to $87.70 beating earnings forecasts and raising full-year guidance. [...]