This Post-Brexit Rally Is All About Central Banks

The stock market rally in recent sessions is being fueled by hopes that central banker will once again come to the rescue, following last week's historic Brexit vote. 'I think this is a reflection of what's changing in terms of the monetary policy stance worldwide,' said Josh Mahony, a market analyst with IG Markets, based in London. 'I feel like this is short-term rally off of what I believe to be a negative piece of news.' Mahony said the Bank of England will likely cut interest rates, and pointed to remarks from Bank of England Governor Mark Carney on Thursday, who hinted that more easing may come this summer. Stocks are on track to post four straight sessions of gains following two days of Brexit-related declines. TheStreet's Scott Gamm reports from Wall Street.