Stocks are on a roll with another triple-digit gain today for the Dow blue chips, the S&P 500 and the Dow transportation index all at fresh all-time highs. The NASDAQ closed at its highest level in more than 13 years.
It looks like stocks have shaken off the stumbling start to the New Year. They got a big lift this morning, from Bank of America earnings. The bank`s profits shot up eight-folds from a year ago.
Also helping: a big surprise boost in manufacturing and a World Bank forecast calling for a stronger growth outlook not only for the U.S., but the global economy as well. On Wall Street today, the Dow jumped 108 points, the NASDAQ was up 31 and the S&P added nine points.
John Manly, chief equity strategist at Wells Fargo Funds Management is interviewed about this turn-around.