Global Stocks Rebound, Oil is Rocketing Back Above $30 a Barrel

It's a snapback for stocks. Markets around the world are rallying on oversold conditions and the prospect of more European economic stimulus. Japan's Nikkei stock market soared 6%. Oil is skyrocketing also, trading back above $30 a barrel. Meanwhile, trading could be subdued as the East Coast prepares for the first major snowstorm of the season. Blizzard conditions are expected from Washington D.C. to New York City beginning later today. The nation's capitol could get up to 2 feet of snow. Airlines are canceling flights along the eastern seaboard. Starbucks (SBUX) sales in the final months of 2015 were better than expected. But the coffee giant does see business slowing down in China as well as Europe. Starbucks gift cards were among the most popular holiday gifts with $1.9 billion worth sold and 1 in every 6 Americans receiving one.