SURPRISE: Italy Gets Downgraded And Stocks Are Booming Around The World

wrestling trampoline jump bounce

Photo: slgckgc, Flickr

Update:Since we wrote this post just after 4 AM, the big global rally has accelerated.

Despite Italy getting downgraded, the Euro is higher, the FTSE MIB (Italy) is up over 1%, the DAX is up over 2%.

Dow futures are pointing to a gain fo around 100.

In addition to the fact that stocks are higher, this also marks the first day in a while that stocks are higher in the pre-market.

 

Original post: Markets are weird pt. #25209532.

Today’s example is Italy’s benchmark FTSE MIB index rallying over 1.2% a day after the country got downgraded by S&P, a move which initially sent all global markets lower.

Not only is Italy in the green, but US futures have come back (after being sharply lower), as has the euro.

Even French Bank Societe Generale is only down 2% today, which is practically an up day given how it’s been trading.

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