WELCOME BACK: Markets Are Ripping Higher

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Photo: US Navy

More talk about support and recapitalization fo European banks is helping spur another rally, continuing the trend from most of last week.US futures are all popping hard. The Dow futures are now up by about 145.

Europe is higher across the board. Italy’s FTSE MIB is up 1.2% 1.5%.

France is up 0.9%.

The euro is having a monster morning, shooting back above $1.35.

What’s helping?

— There’s a rumour about Russia bailing out Spain.

— Strong economic data.

— The aforementioned new promise from Germany and France that there will be a bailout plan.

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