Markets Are Surging Like Mad In Europe And The US

Joe Weisenthal 

 Dec. 2, 2011

 4:13 AM

Image: EvilSpoon7 via Flickr

Hope that Europe might really cobble some plan together involving fiscal pacts an the ECB may be catching hold.
Markets are staging a big rally today.

Italy's FTSE MIB is up 2.2%, and more remarkably, the yields on the Italian 10-year is below 6.5%! That's a big improvement from the 7.3% or so yield we saw just a few days ago.
Futures in the US are up sharply.

In the US the big news of the day will be the jobs report. Analysts expect 125K new jobs created in November.