You can find things to quibble and worry about, but so far, globally, this would qualify as one hell of a recovery.
Bloomberg: Stocks rose, sending the benchmark index for emerging markets to its biggest six-day rally since July, and commodities gained after China’s industrial production and Japan’s machinery orders climbed. Gold advanced to a record.
The MSCI Emerging Markets Index added 1 per cent at 10:18 a.m. in London, boosting its six-day increase to 7.7 per cent. Futures on the Standard & Poor’s 500 Index were 0.8 per cent higher. Gold rallied as much as 1.5 per cent to $1,117.33 an ounce in London, while copper rose 1.7 per cent.
China’s industrial production soared 16.1 per cent from a year ago and orders for Japanese machinery surged 10.4 per cent from the previous month, signaling the recovery is accelerating in the world’s second- and third-biggest economies. Earnings from Paris-based bank Credit Agricole SA and Swiss cement-maker Holcim Ltd. beat analysts’ estimates. A record 80 per cent of S&P 500 companies have topped third-quarter projections, according to Bloomberg data going back to 1993.