THE GOOD OLD DAYS ARE BACK, EVERYTHING GOES UP: Here's What You Need To Know

spin

Photo: ravedelay via flickr

The wheel of fortune spins again!But first, the scoreboard

Dow: +79.29
NASDAQ: +31.76
S&P 500: +11.46

And now, the top stories:

  • It was actually pretty quiet for most of the globe for most of the day. The rally really started yesterday afternoon, when the Dow cut a 150 point loss in half. That continued through the evening (helped in part by good earnings from Dell, perhaps) with solid gains overseas.
  • By the time early morning rolled about, it was up for everything: stocks, commodities, the precious metals, etc. Oil continued its bonkers activity, at one point going back over $100 (it was below $95 at one point yesterday).
  • The morning saw mixed earnings. Staples got killed after sour sales. Deere on the other hand confirmed that the agriculture boom is in overdrive.
  • The data today was light. FOMC minutes were basically a big, expected snooze.
  • The market never cares about debt stuff, and didn’t have any discernible reaction to news that the “Gang Of Six” — an attempt at a moderate approach to the deficit — collapsed.
  • In the end: all up, risk on, old days, QE forever!
  • Click here to see 50 things you should know about the economy >

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