China rebound a catalyst for the gains
The China PMI data was much better than expected. Coupled with the hopes for a China deal and fear that investors are underinvested and scared of missing a run higher.
The snapshot now is showing:
- S&P up 19.24 points or 0.68% at 2853.64
- Nasdaq is up 66.43 pointe or 0.86% at 7795.75
- Dow is up 161 points or 0.62% at 26089.98
There is talk that the S&P is signaling a bullish technical view with the crossing of the 50 day MA above the 200 day MA (the so called "golden cross").
