Markets Are Rallying And Italy Is On A Tear

Two weeks ago, it felt as though a deflationary breeze was blowing and stocks and commodities got whacked.

Last week markets regained their footing.

In the early innings of this week, markets are looking strong.

Asia was basically closed today. But US futures are up, and stock markets are up across the board in Europe.

The big winner is Italy, which has finally put its government issues to bed with the choice of Enrico Letta to be the country's new Prime Minister.

Italian stocks are up nearly 1.6%.

Things are very quiet news-wise, but remember that this week is going to be huge for economic data. So we'll get some answers to some of the big economic questions out there.