But, while rising markets appeal to investors, many experts worry that it is "irrational exuberance" rather than sound business fundamentals that is driving this rally.
"Central banks around the world are continuing to prop up the economy and support risk taking. There's very little regard for valuation," said Jack Ablin of Harris Private Bank. "It looks to me like a pure risk rally and it is consistent with the G20 comments."
"It's basically the fact that we have free money right now, basically we're re-inflating things and that is what's taking place rather than evidence of a solid recovery," said Peter Jankovskis, of OakBrook Investments.
The government of Prime Minister Saad al-Hariri has formed a unity government by forging an alliance that includes two ministers from terrorist backed Hezbollah. Hariri was voted into office in June, but has been unable until now to forge a coalition of all parties to work toward governance.
"Finally, the government of national concord has been born," Hariri told reporters. "We have turned a page that we don't want to go back to and opened a new page that we strive to make a page of concord and work."
The new 30-minister cabinet includes 15 ministers from Hariri's coalition, 10 from the opposition including two Hezbollah ministers, and five, including the key interior and defense portfolios, were nominated by President Suleiman.
"I want to be honest from the start: this government can be a chance to renew faith in the state and its institutions... or it can turn into a replay of our failures," said Hariri.
Inn the past it was Hezbollah that has been responsible for destabilizing the Lebanese government and for waging a continual war against Israel.
Ships from North and South Korea exchanged gunfire earlier this morning in the disputed territorial waters of the Yellow Sea. According to South Korean naval reports, a North Korean ship crossed into South Korean waters.
The South Korean vessel first gave the North Korean vessel three verbal warnings that it had crossed into South Korean waters. It then fired warning shots, which were returned as gunfire by the North. The South Korean ship then returned fire, heavily damaging the North Korean vessel.
South Korean President Lee Myung-bak has convened an emergency meeting of his security council to ensure that the incident does not widen into a greater military encounter.
The North Korean news agency is demanding an immediate apology.
"The South Korean military authorities should make an apology to the North side for the armed provocation and take a responsible measure against the recurrence of the similar provocation."
Reported earnings from Barclays and HSBC demonstrate that the two banking giants that eschewed government bailout money are now showing a significant profit, while their government supported rivals are still mired in debt.
While the banks' profits were significantly lower than 2008 figures, they were well ahead of their publicly supported rivals.
The banks' results come a week after Royal Bank of Scotland announced a pre-tax loss of £2.2billion for the three months to the end of September.
Barclays reported £4.54billion in profits for the first nine months of the year - down by nearly a fifth against a year earlier.
Although the banks did not receive public funds, they have agreed to abide by guidelines established by the G20 summit pertaining to bonuses due their employees.
"We will be fully compliant with the G20 rules in considering bonus amounts and we will be thinking of all our stakeholders - employees, shareholders and the broader community - and we will be taking into account all of their views," read a bank statement.
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