Midday market 10/25: Market pushes strongly, Yellen signals bond buying

Market opens with fairly stable sentiment after SPX closed yesterday just below 3800 with most money flowing into tech right before this week's mega-cap ER. SPY pushes strongly and touches above 384 before temporarily cooling off. Optimism from Europe as well as reduced volatility in the Chinese market after yesterday's crash has a positive impact on US stocks today. Additionally, Treasury Secretary Janet Yellen last night said the US government is considering buying bonds to improve market liquidity conditions, helping bond yields cool off immediately this morning after 4 days of concerning increases, easing pressure on the tech sector as well as upcoming earning expectations.