Markets Are Rallying Around The World

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Photo: Flickr/Jamesongravity

Markets have given back some earlier gains following a weak Spanish debt auction.  But overall, they continue to be higher early in the European trading session.England’s FTSE 100 is up 0.3%.

France’s CAC 40 is up 0.3%.

Germany’s DAX is up 0.5%.

Spain’s IBEX is up 0.3%.

Italy’s FTSE MIB is up -0.4%.

This follows a big rally in the Asian markets.

Japan’s Nikkei closed up 0.8%.

Hong Kong’s Hang Seng Up 1.6%.

Australia’s S&P/ASX up 2.02%.

There isn’t much overseas market-moving news worth mentioning.

Sentiment may be getting a boost from yesterday’s bullish U.S. housing starts number.  It’s also possible that sentiment was just too low to begin with.

Later today, we’ll get two huge pieces of economic data from the U.S.: the Philadelphia Fed manufacturing report and existing home sales.

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