U.S. stocks climbed further on Friday, closing at record levels. Markets benefitted from a decision by the Bank of Japan to extend monetary stimulus by another ¥10 billion to ¥80 Billion per year. Traders welcomed the news as it coincides with a decision from the Federal Reserve to end their own quantitative easing program in the U.S. Japan is a key market for U.S exporters and boosting stimulus should help fight off the risk of deflation and boost the economy, in turn leading to earnings potential. Earnings season is also ongoing and the market has received strong results which has boosted optimism. At session close the S&P 500 closed 1.17% higher and the Dow Jones closed 1.13%higher. Futures are little changed so far today but this should be a volatile week with earnings set to come from AIG, TripAdvisor and Herbalife. There will also be key data from the U.S. including the ADP Nonfarm Employment Change on Wednesday and NFP on Friday.
Asian markets were mixed today with the Nikkei remaining closed for a holiday. The Nikkei gained 4.83%at the end of last week after the Dollar soared against the Yen. The movement came after the Bank of Japan made the surprising decision to boost asset purchases with the hope of aiding inflation. Today, the Hang Seng lost 0.34% as data suggested a slowdown in the economy. The Non-Manufacturing PMI slowed to 53.8 last month, down from 54 in September. The HSBC Manufacturing PMI also declined to 49.2 from 50.7 a month before.
European markets are lower today after weak data. The German Manufacturing PMI came out worse than expected at 51.4 and the overall Manufacturing PMI was worse than expected at 50.6. Currently, the CAC 40 is down 0.46% while Germany’s DAX is off 0.43% and London’s FTSE 100 is lower by 0.40%.
November 3, 2014 – Indices News
U.S. stocks climbed further on Friday, closing at record levels. Markets benefitted from a decision by the Bank of Japan to extend monetary stimulus by another ¥10 billion to ¥80 Billion per year. Traders welcomed the news as it coincides with a decision from the Federal Reserve to end their own quantitative easing program in the U.S. Japan is a key market for U.S exporters and boosting stimulus should help fight off the risk of deflation and boost the economy, in turn leading to earnings potential. Earnings season is also ongoing and the market has received strong results which has boosted optimism. At session close the S&P 500 closed 1.17% higher and the Dow Jones closed 1.13%higher. Futures are little changed so far today but this should be a volatile week with earnings set to come from AIG, TripAdvisor and Herbalife. There will also be key data from the U.S. including the ADP Nonfarm Employment Change on Wednesday and NFP on Friday.
Asian markets were mixed today with the Nikkei remaining closed for a holiday. The Nikkei gained 4.83%at the end of last week after the Dollar soared against the Yen. The movement came after the Bank of Japan made the surprising decision to boost asset purchases with the hope of aiding inflation. Today, the Hang Seng lost 0.34% as data suggested a slowdown in the economy. The Non-Manufacturing PMI slowed to 53.8 last month, down from 54 in September. The HSBC Manufacturing PMI also declined to 49.2 from 50.7 a month before.
European markets are lower today after weak data. The German Manufacturing PMI came out worse than expected at 51.4 and the overall Manufacturing PMI was worse than expected at 50.6. Currently, the CAC 40 is down 0.46% while Germany’s DAX is off 0.43% and London’s FTSE 100 is lower by 0.40%.
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