TUESDAY 4/7/15; US Stock Rally Cascades to Asia and Europe

At 9:46 AM Tokyo time (8:46 PM EST Monday evening on the US East Coast), the NIKK is running higher. The happiness from US trading cascades through Asia. Japanese banks and electronics makers run higher. The BOJ begins a two-day policy meeting. US futures are slightly lower. S&P -3. Dow -17. Nasdaq -5. Euro 1.0937. Dollar/yen 119.47. Pound 1.4886.

WTIC oil 51.74. Brent oil 57.62. Natty gas 2.66. Gold 1211. Silver 16.85. Copper 2.722.

Treasury yields are; 2-year 0.50%, 5-year 1.31%, 10-year 1.90%, 30-year 2.55%.

The RBA maintains rates on hold when a cut was expected. SPASX200 finishes up +0.5%. Aussie dollar 0.7701. Small iron ore producers are squeezed hard and must sell assets to stay afloat.

The SSEC is trading after its three-day weekend gaining a big +2.5% as traders are willing to buy Chinese stocks at any price; the run-up in stocks is reminiscent of the parabolic move in the Nasdaq just before the dotcom bubble popped in 2000. Chinese banks run higher. The transportation stocks, China CNR and CSR, are limit up as the Chinese government plans to provide funding for infrastructure projects.

Hong Kong is 












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so even Aunt Edna, in her orthopedic shoes, has no trouble stepping over. This is how the game is played on Wall Street; most of those companies will beat the lowered estimates and stock prices will bounce on the happy news even though the numbers are under the original estimates expected before the preannouncement.