DOW UP 130

stocks

Photo: Google Finance

Stocks are surging today, erasing all of yesterday’s losses.Going into the final hour of trading, stock are at their highs of the day.

There isn’t too much news out of the U.S. to drive stocks higher.

Earlier today, the CBO released its forecasts for the budget and the economy.  The organisation projects the federal deficit to fall to $845 billion this year, the first time it’s been under $1 trillion in five years.

In Europe, market rebounded sharply after yesterday’s political risk-driven sell-off.  Yields on Spanish and Italian bonds came down today as well.

Click Here For Full Coverage Of Today’s Market Rally >

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

markets moneygame-us