Yesterday U.S. Dow Jones rose sharply after seeing better than retain sales figure, Asian markets took that cue and finished the day with smart gains. European stock markets too are trading firm at this moment. After weeks of carnage, this was expected and some relief for market players. However, markets have bounced bank almost 20% from their recent lows and some sort of consolidation is expected before any significant directional move. Gold, Silver lost some gains as traders flock to equity markets for some quick bargain. Crude oil however, is still trading well above U.S.$90 per barrel mark and is cause for concern for central banks and policy makers as well for equity markets. This time around U.S. Fed will not be under so much pressure to reduce interest rates as earlier due to no more bad news coming out of subprime hit institutions and he will be concerned about firmness in inflation. Volatility will continue to be the main theme for equity markets going forward as uncertainity still prevails in the investors mind.