dow2664
Stocks close with gains on Wednesday and that trend continues at open and into mid day on Thursday. Investors report the rally in the market comes as a result of the highly anticipated annonuncement made Wednesday by the Fed to roll out another round of bond purchases, as well as in response to the results from the midterm elections. On Wednesday the Fed released it’s plan to buy $600 billion of treasuries to help stimulate the economy. This measure, known as quantitative easing, assists in pressuring long term interest rates and decreasing inflation to support the lagging economy. Overseas markets also report gains as a result of the Feds economic recovery plan. Economists report mixed feelings over the Feds stimulus plan and how the move may help or hinder the economy in the long term. The Republican’s anticipated victory in the midterm elections has also boosted stocks. Investors report that a Republican majority may result in more business friendly legislation. The Labor Dept is scheduled to release its monthly jobs report Friday. The initial jobless claims report indicates an increase from 445,000 to 457,000 claims for the week ending Oct. 30 and an overall high unemployment rate. Economists report that the slow economic growth continues to affect weakness in the job market. At mid day the market indices continue to soar. NASDAQ is up 33.11 points to 2,573.38 . DJIA is up 189.74 points to 11,404.87. S&P 500 is up 17.73 points to 1,215.53. The Treasurys 10-year yield is down 0.15 to 2.47%. The dollar is down 0.0061 to the Euro at $1.43. Author: Pamela Frost
No comments:
Post a Comment