Monday global stock markets in jubilant mood

The markets worldwide are in a jubilant mood at the beginning of this week (Dec 8).
A wave of Euphoria?

(Amsterdam, 11.15CET)
Asian markets up on further rate cuts and stimulus packages in the Far East.
Cyclicals, base metals and mining are up.

European markets following last Friday's Wallstreet's close.
U.S. markets to open higher on (meager) news of bailout money for Detroit 3. The markets seem to be geared up for the Christmas rally. More government stimulus packages are being developed.
But analysts are skeptical and expect it won't last long, the bears are just flexing their muscle. More real bad news for the global economies are in the pipeline. However, for the moment the bulls are enjoying the party. Sparks of hope flaring up! But a lot of it is based on rumors and snippets of good news.
President-elect Obama warned this weekend for too high expectations and hinted that 2009 will be very difficult. Keynesian infra-structure spending plan is under further construction.
For now it looks like investors are inspired by and follow the 'Buffet example' and have their eyes on the cyclicals and base industries. Properties stocks and financials doing pretty good as well.
Generally investors are hunting for more clues about the Economy, but confidence in Financial markets is not restored. Gold and Platinum were slightly up.

Investors are taking the long view

Investors are beginning to take the long view after all the bad economic reports.
Stocks rallied on Wallstreet Friday (Dec 5th) despite a particularly bad report about the Jobs Market in the U.S. (533.000 job losses in November).
The Dow Jones industrial average (INDU) jumped 260 points or 3.1%. The Standard & Poor's 500 (SPX) index added 3.7% and the Nasdaq composite (COMP) gained 4.4%.
It is beginning to look like a short Chritmas rally after all.

From CNN Money
"The report this morning confirmed the fears that the economy is worse off than economists had expected," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. "But we're kind of seeing the reaction today that we've seen over the last few days, where there's extremely negative news on the economy, yet the market manages to hold its own."
Stocks still ended lower for the week following Monday's steep selloff. On that day the Dow lost 680 points after the National Bureau of Economic Research (NBER) confirmed what many have long believed - that the economy is in a recession. The NBER put the start at December 2007.