The Stock-Market Bandwagon Is Filling Up Very Quickly

The U.S. stock market as measured by the MSCI USA Index just posted its best two-day performance since February, rising 1.58 percent Tuesday and 1.13 percent Wednesday. What's notable is that the gains, in the wake of a nasty sell-off that left equities on the cusp of a correction, aren't coming with the usual caution from prominent Wall Street strategists about “dead cat bounces.” Instead, they are expressing a remarkable sense of enthusiasm.