Reasons:
Firstly, The announcement by Pres. Obama that indicates that he has reached a much-debated compromise to extend the Bush-era tax cuts by two years, removed big uncertainty from the marketplace.
Secondly, China's further interest rate hikes despite reporting over the weekend the fastest inflation in 25 months. This remains very important to U.S. investors and a strong factor behind our stock market’s rise.
Thirdly, continued better economic data in the United States GDP and jobless claims including last week’s University of Michigan consumer confidence level rising to a six-month high
Finally, big banks, which have been laggards, rallied on positive analysts’ comments and prospects that the companies may increase their dividends.
So, hopefully that answers the question. Good luck!
