European stocks pushed higher at the open, carrying positive sentiment over from Asian trading hours and shrugging off the previous session's hotter-than-expected US inflation reading — the kind of data investors track closely for what it implies about the path of interest rates. US futures joined the advance, indicating that the inflation surprise was doing little to disrupt the market's upbeat tone this week.

S&P 500 futures climbed 0.6%, while Nasdaq futures led the charge with a 1.5% gain — a notable turnaround after the prior session's inflation scare sent US stocks tumbling and Treasury yields surging.

One caveat stands out: the US bond market is closed today in observance of Veterans Day, a US federal holiday that shuts Treasury trading even as equity markets operate on a regular schedule. The absence of fixed-income traders could complicate the picture as equities extend their rally without the usual cross-asset confirmation from the Treasury market.

Here is how European equities stood at the open:

• Eurostoxx: +0.9%
• Germany DAX: +0.9%
• France CAC 40: +0.6%
• UK FTSE: +0.7%
• Spain IBEX: +0.3%
• Italy FTSE MIB: +0.7%

Regional benchmarks continued their strong run, with the DAX moving closer to all-time highs once again. Germany's benchmark index is now within striking distance of its record high around 26,692, while the broader STOXX 600 is also hovering near record territory.

Several factors are keeping the advance alive. The sharp retreat in oil prices has provided major relief for European equities — relief that carries extra weight in Europe, a region that imports most of its energy and is sensitive to swings in oil costs. Hopes of de-escalation in the US-Iran conflict are helping to ease concerns over energy-driven inflation, giving businesses added breathing room in managing their costs and overlays.

Corporate results have also held up better than feared. European banks are enjoying a particularly strong start to the week, with deal-making optimism and encouraging figures from the likes of Italian lender UniCredit helping to lift the sector overall. That suggests the move is not simply Europe riding on Wall Street's coattails.

What may prove telling this week is how willing investors have become to look past the risks that dominated recent weeks. It remains an open question whether genuine confidence is returning to stocks, or whether investors are simply growing comfortable ignoring those risks again.

With the US bond market closed, a clearer follow-up on that front is unlikely to arrive before tomorrow at the earliest. For now, buyers are keeping the momentum intact. But with European stocks once again approaching record territory, the question is whether there is enough fuel left to sustain the rally.