NIKKEI 15,000! First Time Since January 2008
Godzilla (1954)
Markets just opened in Asia, and they're following the U.S. markets way higher.
Of note is Japan's Nikkei 225, which just burst through 15,000.
Dow Jones reports this is the first time the Nikkei has been above 15,000 since January 4, 2008.
Leading the way is electronics maker Sony, which is up by around 12%. Hedge fund heavy hitter Dan Loeb made a proposal to management to split up the company. Loeb said he was willing to commit a significant amount of capital to support the IPO of Sony's entertainment division.
On Tuesday morning, markets were in the red. But they quickly turned around at just before 8:00 AM ET.
That was when influential hedge fund manager David Tepper appeared on CNBCand presented his uber-bullish case for stocks. To sum things up, he noted that the global economy was improving and global central banks were easing.
He also pointed to the equity risk premium — a way to value stocks — was at historically high levels, which suggested stocks were cheap. Experts like Aswath Damodaran, Jim O'Neill, Lazslo Birinyi, and Barry Ritholtz have all noted the bullish nature of this metric
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