Global Stocks Rally, Futures Up

At least at this early hour of the day, nothing new has happened to shake investors any more — the lame duck Attorney General having a stroke in public,is just about the only 2008, what a year story we’ve seen so far, and it’s hard to see how that would effect the stock market (but who knows!).

It’ll be very awkward if we do sustain the rally, since the technical magicians will have to explain why the low we hit yesterday was some kind of magical semi-support level.

Europe and Asia finally took a breather on the drubbing:

The FTSE 100 index of leading British shares was up 42.78 points, or 1.1 per cent, at 3,917.77, while Germany’s DAX was 46.59 points, or 1.1 per cent, higher at 4,266.79. The CAC-40 in France was up 34.62 points, or 1.2 per cent, at 3,015.04.

The modest bounceback in Europe came after Asian markets recouped early losses in the wake of the sell-off on Wall Street to end up in positive territory. Japan’s Nikkei 225 stock average rose 207.75, or 2.7 per cent, to 7,910.79, and Hong Kong’s Hang Seng index jumped 360.64 points, or 2.9 per cent, to 12,763.81.

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