Stocks Explode Higher… Here's Why

After an ugly night in the futures markets, US equity markets went into full ramp mode shortly after 0900ET and all the majors are back in the green for the day now…

It’s truly anyone’s guess why but three main triggers are being discussed across trading desks:

1) Federal Reserve Bank of Philadelphia President Patrick Harker said this morning that it’s possible the U.S. economy might see a modest contraction in growth but he expects the job market to remain strong.

“We could have a couple of negative quarters,” Mr. Harker said in an interview on Yahoo’s finance channel. But he cautioned that he didn’t necessarily see that as recessionary, and he noted “we still have very tight labor markets” and “we’re going to continue, in my view, to have tight labor markets.”

Why did the market rally on that? Simple –

Keep reading this article on Zero Hedge - Blog.

Leave a Reply