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Global Stocks Bounce Back as Wall Street Rejuvenates Markets

Wall Street looks to extends Wednesday's monster rally as Asian and European markets follow U.S. markets higher.
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Wall Street looks to extend Wednesday's monster rally as Asian and European markets follow U.S. markets higher. China's Shanghai Composite jumped 5%. There are reports, however, that the Chinese government intervened and bought stocks. Crude oil is also getting a bid, as it jumped back over $40 a barrel. Amgen (AMGN) may get FDA approval today of its powerful cholesterol lowering drug Repatha. That will set the stage for a market battle with Sanofi and Regeneron Pharmaceuticals, which won approval for their similar drug last month. Both drugs lower LDL cholesterol by 40% or more beyond what can be achieved with statins like Lipitor. Walmart (WMT) is getting a head start on the holidays. It is launching its layaway program August 28th, two weeks earlier than last year. The timing shift coincides with the launch of the new 'Star Wars' merchandise, which goes on sale September 4th.

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