(as of 7:20 AM PST)
Buyers have returned to US markets in a big way, sending shares up 1% to start the day. Bellweather tech giant Microsoft is leading the way with positive results from its new software marketing plan. Even more surprising is the fact that investors are ignoring strong hints of a June interest rate hike. It has been a long time since we have seen stock prices decouple from interest rate fears like we are seeing today. New home sales came in very strong and well above expectations, adding to investors enthusiasm. Asia markets were mixed overnight while Europe is also up big in late trading. Precious metals are off while oil is slightly to the upside. Investors seem to think that an aggressive Federal Reserve interest rate hike is an indication that the US economy is much stronger than previous data has portrayed.
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