The synchronized rally seems to be all about the American Peso as it slides to a 15-month low.
Bloomberg observes that shares of U.S. companies who get a majority of their sales overseas are out performing their domestic focused brethren.
The chart below shows shares of S&P500 companies generating more than half of their revenue abroad have beaten those doing business only in the U.S. — and by 27%!
Dollar Drop Gives U.S. Exporters Biggest Gains: Chart of Day
Bloomberg, Nov. 10 2009