The markets are rallying again today. The Dow is currently up 97 points at 10120, the NASDAQ is up 25 points at 2137, and the S&P 500 is up 12 points at 1082. A fantastic start for the Bulls it seems.
Gold is also trading higher, up to $1,109 at the moment, as it continues to smash through previous records. Oil is near $80 a barrel too, currently up $1.84 at $79.27.
Currently, shares of Radio Shack (RSH) are up more than 13% at 20.08, retailer Abercrombie & Fitch (ANF) is up 6.7% at 37.33, and nearly all of the S&P is in the green, giving Bears a run for their money.
We don’t believe in “big picture” explanations for market movements. But if you want to know what people are saying, here it is: the official line is that the rally is built on the market’s reaction to the news coming out of the G-20 meeting.