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Stock futures were higher ahead of the opening bell this morning. Big news posted yesterday afternoon as the Federal Reserve’s policy report was a bit better than expected. Stock trending has been high ever since. Another positive for the market was the mid-term election results in that Republicans now control the house and added seats in the Senate. An influx of Republican control and legislative power is viewed as a positive for the market as Republicans are viewed as having an acute business focus. Economic earnings report posted strong through mid-day today and the stock action surge continued. The Labor department did post today that people seeking jobless benefits increased significantly last week. According to the Labor department, claims for unemployment aid rose by 20,000 to a seasonally adjusted 457,000 level for the week ending October 30th. The related statistic of the four week average of unemployment claims rose by 2,000 to 456,000. This information is receiving some spotlight attention right now as the unemployment insurance benefit program is set to expire come the end of this month. Earlier today, reports circulated that the Obama administration is open to considering the possibility of extending tax cuts to all income tax brackets. The end of day Dow Jones Industrials settled in the green at 11,430.76. The Nasdaq settled up as well at 2,577.34. The S&P 500 settled up at 1,221.06. The dollar devalued and lost to the euro by .0031 today. Overall, it was a big day for stock action. All three major index values end the day at 2-year highs. Author: Frank Matto
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