Stocks Are Surging

And now stocks are surging.

In early afternoon trade on Friday, the Dow was up about 120 points, the S&P 500 was up 18 points, and the Nasdaq was up 42 points.

Stocks are looking for their first finish in positive territory this week as the market continues to digest the surprising move out of the Swiss National Bank on Thursday to remove its currency peg against the euro.

Following this announcement, the Swiss franc quickly appreciated against other major currencies, as the SNB had been pinning the franc at 1.20 against the euro.

On Friday, the franc had moved back to parity — or equal value — against the euro.

The euro was also falling against the dollar, tumbling to an 11-year low against the dollar on Friday.

Consumer confidence in the US also rose to a 10-year high Friday morning, while inflation data showed that consumer prices fell 0.4% in December as the price of gas continues to fall as oil keeps sliding.

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