Global Markets Are Going Gangbusters

We are witnessing a historic global stock market rally in the wake of the Federal Reserve's surprising decision to keep its foot on the monetary stimulus gas pedal.

On Wednesday, the Dow surged 0.9% to 15,676, and the S&P 500 increased 1.2% to 1,725. Both closed at all-time highs.

That was followed by a major rally in Asia.

• Japan's Nikkei jumped 1.8%.
• Hong Kong's Hang Seng jumped 1.8%.
• Australia's S&P/ASX jumped 1.1%.

And Europe is blasting higher early in its trading session.

• Britain's FTSE is up 1.4%.
• France's CAC 40 is up 1.2%.
• Germany's DAX is up 1.3%.
• Spain's IBEX is up 1.3%.
• Italy's FTSE MIB is up 1.4%.

U.S. stock market futures are pointing modestly higher.