World shares have surged following reports that China plans to spend billions of dollars to help rebuild the capital of state-run banks and provide other fiscal support for the economy.

Wall Street is trading higher before the opening bell, following global markets that surged on reports that China plans to spend billions of dollars to help rebuild the capital of state-run banks and

The Cboe Volatility Index had receded to its lowest level of the month by early Thursday, signaling that investors' fears of another imminent stock-market blowup have abated. But futures contracts tied to the index are telling a different story,