| The KUIK Morning Market Report for Friday, October 23: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 151 | points | 17,640 | 7:10 AM | ||
| S&P500 | Up | 1.1% | percent | 2,075 | 22.25 | ||
| Nasdaq Composite | Up | 2.1% | percent | 5,021 | 100.91 | ||
| 30 Year Treasury | Up | 5 | Basis Points | 2.91 | Annual Yield | ||
| European stocks were higher today, as a surprise cut in interest rates in China added to the market’s cheer over the prospect for more stimulus from the European Central Bank. The Stoxx Europe 600 ended up 2.2% to 378.18, looking at its highest close since Oct. 19, according to FactSet. All sectors advanced, led by the telecommunications, industrials and basic materials. Stocks hit intraday highs after the People’s Bank of China cut its one-year deposit rate by 25 basis points to 1.5%, and its one-year lending rate by 25 basis points to 4.35%. It also relaxed reserve requirements for banks. This follows cuts in interest rates in August and in June. | |||||||
| U.S. stocks opened higher, getting a boost from that rate cut in China and better-than-expected earnings results from tech companies such as Alphabet, Microsoft and Amazon. The main indexes were on track to book solid weekly gains for the fourth week in a row. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/european-stocks-on-pace-to-third-straight-weekly-gain-2015-10-23 | |||||||
| http://www.marketwatch.com/story/us-stocks-open-higher-after-china-rate-cut-tech-results-2015-10-23 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||