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Markets Around The World Are On A Tear

Sam RoJul 11, 2013, 14:25 IST

REUTERS/Carlos BarriaDATE IMPORTED: June 26, 2013 A horse is tied as part of its training to be a racing horse at an area of grasslands located 70km (43 miles) from the Mongolian capital city Ulan Bator June 26, 2013. It's all green early in the European trading session.

England's FTSE 100 is up 1.0%.

France's CAC 40 is up 1.0%.

Germany's DAX is up 1.2%.

Spain's IBEX is up 0.7%.

Italy's FTSE MIB is up 1.0%.

Fed Chairman Ben Bernanke ignited a rally a little after the U.S. market close. During the Q&A of a speech he gave at an NBER conference in Massachusetts, Bernanke took a decidedly dovish tone.

Here were two key takeaways from Business Insider's Matthew Boesler:

Just because the Fed may begin tapering soon, interest rates will still be pinned at current ultra-low levels for a long time.
Bernanke said that the unemployment rate – a key indicator that will determine the future path of Fed monetary policy – probably understates the weakness in the U.S. labor market.

Futures surged on the news. Dow futures are up a solid 140 points.