OVERNIGHT

Some say the coming cold weather spell hiked oil prices today and together with the uptick in the U.S. market, Asian shares rallied overnight. European shares also showed some strength.

The WSJ reported: Markets in Asia rose Wednesday as a recovery in oil prices lifted energy shares. Australia’s S&P/ASX 200 was up 0.6%, while Hong Kong’s Hang Seng Index and the Shanghai Composite Index were flat.

Japan’s Nikkei Stock Average gained 0.5%. South Korea’s Kospi was down 0.2%.
Shares in Australia were up for the ninth straight session with the energy sector up 1%.
In Singapore, Noble Group Ltd. ’s stock fell 4.6% after Moody’s Investors Service slashed the commodities firm’s credit rating to junk status. It was another blow for the firm, which has struggled this year amid allegations of accounting irregularities and a slump in commodities prices. Shares have plunged 64% this year.

U.S. stocks rose Tuesday, as investors bought shares of some of the year’s biggest decliners, including energy stocks. Brent crude oil prices are down more than 30% for the year, but gained 2.4% on Monday in the U.S.

Volatility has been the name of game here in recent weeks following the turmoil in commodities and later the high yield bond market scares. Global downturn fears continue to cast a shadow as does the Fed's recent rate hike.

Volatility is related to uncertainty and uncertainty of late has been about the only certain thing investors have been seeing. In the U.S. it's a short week and a light one.