Markets Make Big Turnaround, And Stocks Are Rallying Around The World

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Photo: Richard Parmiter via Flickr

Yesterday night it looked as though Thursday would be another big liquidation party, as futures were lower, along with precious metals and copper.Remember, copper got crushed yesterday, a move interpreted by many as a big marker of weakness in China.

Well, right now, everything’s in the green.

Gold for example, is up to $1633/oz, which is about $50/oz higher than it was just 6 or so hours ago.

As for equities, Europe is mostly up (Italy +0.4%, France 0.2%) and US futures are up in the range of just under 1%. The big event of the day: Germany just approved an expansion of the expanded European bailout fund.

The only ominous bit from last night: Another 1% decline in Shanghai, the market that has everyone worried.

For Goldman’s take on what it saw on a recent trip to China see here >

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