Nasdaq, S&P 500 and Nasdaq rally; dollar down

Art Hogan, chief market strategist at National Securities, was quoted by CNBC Tuesday as saying that our inputs today support the kind of momentum we saw on Friday and a continuation of that. The most important thing for investors is that you get to a point where you've priced in a lot of worst-case scenarios. The Nasdaq Composite was the best performer, rallying 321.73 points or 2.76 percent to 11,984. The Standard and Poor's 500 climbed by 80.81 points or 2.02 percent to 4,088. The Dow Jones industrials gained 431.07 points or 1.34 percent to 32,654. The U.S. dollar was down Tuesday with all major currencies, except the yen, plowing ahead. The euro was at the lofty heights of 1.0543 around the New York close Tuesday. The British pound increased to 1.2480. The Swiss franc increased by a tad to 0.9940.

The Australian dollar was close to 0.7020. The New Zealand dollar went up to 0.6355. The Japanese yen went down to 129.44.

The German Dax failed by 1.59 percent on overseas equity markets. The CAC 430 in Paris, France advanced 1.30 percent. The FTSE 100 in London rose 0.72 percent.

The Hang Seng in Hong Kong rallied 652.31 points or 3.27 percent to close Tuesday at 20,602. In Japan, the Nikkei 225 gained 112.70 points or 0.42 percent to 26,659. The Australian All Ordinaries gained 24.40 points or 0.33 percent to 7,350. In New Zealand, the S&P NZX 50 went against the trend, sliding 19.78 points or 0.18 percent to 11,137.