Markets have been surging for the past half hour.
The Dow is up 80 points, the S&P 500 is up 10 points, and the Nasdaq is up 13 points.
The move comes after a slew of headlines that crossed the wires in the past hour.
The first notable headline came from the Wall Street Journal where Federal Reserve reporter Jon Hilsenrath predicted the Fed would “still use the language ‘considerable time'” when it releases its FOMC statement on Wednesday afternoon.
“Considerable time” has been used to describe the period between the time the Fed finishes tapering quantitative easing and begins raising interest rates. With employment improving and inflation showing signs of heating up, economists have been predicting that the Fed would drop this dovish phrase.
The second notable headline crossed at around 11:29 a.m. ET from China.
“China’s central bank starts 500 billion yuan standing lending-facility to nation’s 5 biggest banks,” Bloomberg’s Bonnie Cao reported.
All of this follows a slew of disappointing data out of China that showed growth in the world’s second largest economy was slowing sharply.
Here’s a look at copper, which is now up by 1.8%.
Among the biggest movers in the currency markets is the Aussie dollar. Australia is a major trading partner of China’s, and it’s commodity driven economy is very sensitive to these types of stimulus.
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