by Calculated Risk on 2/21/2010 11:59:00 PM

The U.S. futures are up a little tonight:

Futures from CNBC show the S&P 500 up a couple of points.

Here are the futures from barchart.com

Most of the Asian markets are up tonight, with the Nikkei and Hang Seng up over 2.5%.

From Bloomberg: Asian Stocks, Oil Advance as U.S. Interest Rate Concern Eases

Asian stocks jumped the most since November, oil rose and the yen fell on speculation Federal Reserve Chairman Ben S. Bernanke will signal that U.S. interests rates will be kept near a record low.

The article suggests some investors misunderstood the increase in the discount rate. Bernanke testifies on Wednesday (see Weekly Summary and a Look Ahead), and he will definitely say that the Fed will hold rates low for an extended period.

Best to all.