So now it's clear: forget Europe crashing and burning, let the US ride to the rescue.
A spate of rushed out data from America ahead of tomorrow's Thanksgiving holiday has revived the market and dashed fears about the eurozone crisis in one fell swoop. Across the Atlantic US consumer sentiment rose to its best level since June, while weekly initial claims data was also more positive than expected, dropping to a two year low. Investors seemed to ignore a drop in new US home sales, not to mention the Irish austerity budget and the prospect of Portugal and Spain being the next dominoes to fall in the European debt crisis.
The Dow Jones Industrial Average is now up more than 130 points, which has helped push the FTSE 100 86.03 points higher to 5667.31.
