China's RRR cut continues to reverberate

Whether it's new money going to work or China cutting rates, the equity market is starting the new decade in a good mood.

S&P 500 futures point to a 19 point gain at the open, which will be a fresh record high and build on Tuesday's 9.5 point climb. That's a 0.6% increase and compares to rallies of around 1.2% in Asia and Europe so far.