Art Cashin: Here's What's Driving the Rally

The Dow crossed 9,000 Thursday for the first time since January and Nasdaq racked up gains for the 12th day straight.

What's really driving the stock markets now?

Art Cashin, director of floor operations at UBS Financial Services, offered CNBC his insights Thursday afternoon.

"It started with earnings," Cashin said.

"Then, Meredith Whitney of Oppenheimer came out [in a CNBC interview] and said she liked Goldman Sachs and several banks that were beginning to turn. And that has lasted pretty much right through to here."

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"It's that, it's the earnings and it's the feel that the review of the health care [legislation] means that no one really has an absolute rubber stamp down in Washington. And the market likes that."

Also: Watch the full interview for Peter Costa's take on the Shorts.

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CNBC Slideshows:

• T-Bones and Beer: Cost of Living Across America
• Largest Bank Failures of 2009

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CNBC's Companies in the News:

Microsoft

American Express

CIT Group

McDonald's

General Motors/Motors Liquidation Co.

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Disclosures:

Disclosure information was not available for Cashin or his company.

Disclaimer