Large cap stocks are leading a reversal higher in US equities.
The market opened lower but is steadily marching higher and now up 71 points, or 1.7%, to 4360.
That two-candle reversal is a nice one and prevented a close below the January lows.
Despite the gains in stocks, we’re not seeing much flow-through into stocks.
Closing changes in Europe:
- FTSE 100 +3.9% — best in three months
- German DAX +3.5%
- French CAC +3.5%
- Spain IBEX +1.5%
- Italy MIB +3.6%
The turnaround in the US happened after the European close yesterday so it was a big catchup trade.
On the week: