Charting the Markets: Global Stock Rally, Day Nine

The ninth day of gains in global equities is less convincing than the eight that preceded it. Still, a 0.10 percent rise is still a rise and that brings the winning run to the longest since Feb.25. In that nine-day period the MSCI All-Country World Index has jumped 8 percent, the most in almost four years. That equates to over 3 trillion dollars of value. The drivers of the rally remain the same: optimism about more stimulus from China and expectations the Federal Reserve won't tighten policy this year. European stocks swung between gains and losses at the open.

China was the stand-out performer in Asia today, rising 3.3 percent. The Shanghai Composite Index gained for a third day since local markets reopened after a week-long holiday. Speculation is growing that China will cut interest rates or reserve-requirement ratios - the amount of cash lenders must set aside as reserves. The eyes of the world will be fixed on China this week with export figures due tomorrow and consumer-price data expected on Wednesday. Asian stocks rose after the biggest weekly advance in almost four years. The Shanghai Composite Index has rebounded 12 percent since hitting an eight-month low in August.