Global warming alert: Snow in Las Vegas, stock market rallies. $$
What are the odds of that?
Global Warming Deniers may cite the growing manufacturing numbers. Pfft. What do they know about climate change? Do they know the difference between weather, climate, and PEG ratios? Dumb neocons.
Okay. Got that out of my system. Getting credit today are the manufacturing numbers, and the January Effect
Overall, stocks got a boost from the "January effect" when fund managers are no longer engaged in year-end window dressing and instead focus on stocks they find attractive.
"There is a lot of money in cash, a lot of money in bonds that would like out of bonds, and it's only natural with the economic improvement it's finding its way to equities," said Stephen Massocca, managing director at Wedbush Morgan in San Francisco.
I think "money coming out of bonds" is going to be a big 2011 theme.