It's a surprise that investors felt like buying after Tuesday's market action, according to CNBC's Jim Cramer.
In a CNBC special report Wednesday night, Cramer said "the psychology had changed" as equities markets snapped a six-day losing streak.
"I was actually astonished this morning that more people weren't disheartened by what happened yesterday—the buyers came right in again," he said.
In addition to Chinese easing and dovish Fed comments, Cramer said that the financial sector "looking great" gave investors a reason for optimism.
But investors may still be worried, with many citing China as their chief concern.
Liz Ann Sonders, chief investment strategist at Charles Schwab, described the market turmoil as "a period where there was just a tremendous amount of uncertainty and maybe lack of confidence in central banks." She characterized China's recent moves as simply "a straw" that launched the major bout of selling.
She also said the Fed has shaken markets' confidence—calling the Federal Open Market Committee the "Federal Open Mouth Committee."
Still, the U.S. economy is "doing pretty well," Rick Rieder, BlackRock's chief investment officer of fixed income told CNBC. Compared to the crisis of 2008 "you have an unbelievably different dynamic," he said, as the consumer and the financial system are comparatively delevered.
But "there's a lot more to come" from Beijing, he warned, explaining that commodity indicators show the Chinese economy is decelerating.
In fact, those commodities may signal that the global financial system is ready to rebound when they stabilize, Rieder said.
U.S. index futures swung during Wednesday evening trading, but pointed to a positive Thursday open just before 8 p.m. ET.
During Wednesday's regular trading hours, U.S. stocks shot higher, breaking a six-day losing streak that drove major averages into correction territory.
In addition to an oversold bounce, some analysts attributed the gains to comments from the Fed's William Dudley that a September rate hike looks "less compelling" and a strong durable-goods report.
The major averages closed about 4 percent higher for their best day since 2011, with the rising out of correction territory. The index had fallen into correction during Monday's massive selloff.
—CNBC's Evelyn Cheng contributed to this report.