European Stocks Head for Higher Open as Markets Strive to Regain Positive Momentum

OPEC and its allies' decision toconfirms the group's"naked desire for price buoyancy, not just support," said Vishnu Varathan, head of economics and strategy at Mizuho Bank.

Despite abysmal returns from Chinese stock markets this year, one fund manager thinks there are pockets of value in certain 'core sectors' even when financial conditions are tight. "We think this could be the start of a pretty decent-sized end of year rally," Detrick said during CNBC's"Closing Bell: Overtime."

That could present an opportunity for investors looking for quality stocks and future upside in a volatile environment.

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