Stocks Are Ripping Higher - Dow Up 150

The stock market rally is accelerating.

Currently the Dow is up 153 points, which represents a 1.0% gain. The S&P 500 is up 0.9%.

Overnight, we learned that Chinese exports and Japanese GDP were much stronger than expected. This may be reinforcing confidence that the global economy is in better shape than many think.

There isn't much on the U.S. economic data front today.

At 3:00 p.m. ET, we'll get the July consumer credit balance report. Economists expect to see a $12.7 billion month-over-month gain.