After last week’s scare, markets were back in the green across the board – except for the dollar and treasuries of course.
Major stock indices regained 1% or more today with financials and materials in the lead.
Commodities rallied as well, with a particular 6% pop in natural gas. Gold extended its gains above $1,000, hitting $1,016 while oil creeped back over $70 again.
Animal spirits sent Brocade (BRCD) up nearly 20% on take-out speculation which hasn’t fully materialised yet.
Large caps such as Alcoa (A), Capital One (COF), Prudential (PRU), Wells Fargo (WFC), Las Vegas Sands (LVS), Time Warner (TWC), Dow Chemical (DOW), and Yum! Brands (YUM), all managed over 5% gains.
Overall, the bulls can’t complain on a day like this. They even had Nouriel Roubini become arguably less bearish with his now U-shaped, rather than L-shaped, recovery. What more could they ask for.
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