Here’s Why Stocks Ended Higher: Pros
Stocks rallied Tuesday as the market factors in a host of factors, the CNBC "Fast Money" pros said.
Investors are expecting the Federal Reserve to announce a fourth round of quantitative easing, Tim Seymour of EmergingMoney.com said. "I think the market has priced that in."
But lawmakers looking to avoid the "fiscal cliff" that would trigger tax hikes and spending cuts if a budget deal is not reached are also looking to the Fed to do its "heavy lifting," Seymour said.
"They cannot, and they should not," he said.
The Dow Jones Industrial Average rallied for a fifth straight day, and the Nasdaq closed at its highest level since Oct. 18. The S&P 500 also gained 0.65 percent to close at 1,427.84.
Seymour also noted that Germany was providing a tell – "exporters, they have been rallying."
"So much euphoria is priced in," said Karen Finerman of Metropolitan Capital Advisors.
