There is buying this morning on relief after the interest rate news but people are hesitant to go all out because the focus is shifting to what Taiwan's new president will say in his inauguration speech at the weekend.

Moody's news surely helped turn around sentiment. It gave Brazilian markets a good boost. Dollar futures fell, interest rate futures fell, and C-bonds rose.

Between very high short-interest looking to cover, fairly good economic news, signs the Fed is staying put and better earnings on the way, people are very eager to get in right now, ... I think that barring a terrorist attack or some very disappointing earnings, the market looks like it's going to continue to gain through the next few weeks.

They really showed an interest in helping. They've seen a lot on the news and realize how blessed they are and would like to do something for the ones going through this difficult time.

Clearly, the people who are buying growth stocks are saying the good news from a series of interest rates in the U.S. and Canada will mean inflation remains under control. The overall sentiment today was basically optimistic.

There is still a worry about a possible major correction on Wall Street in the short term.