The stock market's "sugar high" in July

Pimco's Mohamed El-Erian talks to CNBC's Joe Kernen about the prospects for the stock market rally that sprung back to life a few weeks ago.

Bill Gross also has a new commentary out today that might be of some interest:

Reflating nominal GDP by inflating asset prices is the fundamental, yet infrequently acknowledged, goal of policymakers. If they can do that, then employment and economic stability may ultimately follow.