After starting off wobbly, stocks are ending the day solidly in the black with the NASDAQ leading the way. Why the rally? All we know is that buying pressure was stronger than selling pressure, but then, look at all the good news lately.
- Ken Lewis is buying 200,000 more shares of Bank of America.
- A number of retailers actually talked about maintaining margins.
- Raw materials companies are moving up, along with the Baltic Dry Index, indicating the resumption of global trade.
- Various leading economic indicators are starting to turn upward.
- Pending home sales ticked up in December.
- Goldman Sachs, which has been raising private capital, says it wants out from under the TARP.
- Productivity is soaring.
Feeling bullish yet?