The August Rally Continues Thanks To Scraps Of Good News In Europe

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World markets picked up considerably in the past few hours.Most of Asia opened lower but rallied to close flat in the Nikkei and Shanghai, and with 1.6% gains in the Hang Seng. Lower because of U.S. corporate sentiment, Japan saw a bounce when its own corporate sentiment improved.

European markets opened low but quickly rallied to 1% gains.

Bouygues SA lifted markets when it said it would buy back shares. Other small but good headlines included comments from Olli Rehn that Greek debt is on a durable declining path, a larger than expected fall in German unemployment and positive comments from the Irish finance minister.

Dow futures point to a near-100 point open.

Since August 22 the Global Dow is up 6%, but since July 22 it is down 12%.