It is ironic because lower raw material prices and particularly lower oil costs is pretty good news for the global economy, but not very good news for the indices when so many of the companies are making such a big proportion of their profits from them.
There's renewed confidence - companies are feeling happy, they are feeling pretty good about life. They are saying we don't need this money for a rainy day: we can buy extra growth.
There's relief (in the market), coupled with some good corporate news from GM. Certainly the U.S. durable goods data today is very important. Oil prices are steady and that helps too.
Companies are feeling prepared to buy. We'll see more announcements coming through. It's a good thing for stocks.
It looks like a strategically good move. These are property and cash-flow assets, and that's why they are worth so much money.
Cisco, one of the bellwethers, is going to be out after the close, ... that will be a good indication of corporate health.