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Stocks rose around the world yesterday, which could mean the bear market is over. Or, as some warned, it could just mean that mutual funds stopped selling in anticipation of the end of the quarter, and that normal, downward service will resume this morning.

Markets started strong, fell from 11 am through the noon hour, then resumed their advance, finishing near the highs of the day. The Dow Jones Industrial Average (INDEX:DJI) wound up rising 235.57, to 1.47%, to finish at 16,285 and that was the worst performance among the major averages. The S&P 500 (INDEX:SPX) rose 35.95, 1.91% to 1920. The Nasdaq Composite (INDEX:COMP), which has been hit hardest in the latest downturn, came up the smartest, rising 102.84, or 2.28%, and finishing at 4,620.

The World Rose As One

The Nikkei gave permission for stocks to rise during its session, rising 2.70% on hopes for more stimulus from Prime Minister Abe. China was relatively quiet, the Shanghai average rising .48% and the Hang Seng in Hong Kong 1.28%, with Mumbai up 1.48%.

Europe kept the party going, with the German DAX rising 2.22%, the French CAC-40 rising 2.57% and the English FTSE 100 going up 1.91%. Against all that, the Dow’s rise was practically black coffee.

Still what all analysts emphasized, around the world, was that the day’s gains were not enough to make for a terrible, horrible, miserable and very bad quarter for the world’s stock markets. The same problems that existed on Monday – low commodity prices, worries about China, and the Volkswagen (OTC:VLKAY) scandal – will also exist today.

Commodities: Good Day, Bad Month

Commodity prices had a good day, with West Texas Intermediate oil up .71% to $45.41. But it finished the month down 5.83% and remains mired below replacement costs.