The KUIK Closing Market Report for Friday, January 29:
Markets were up.
Index Direction Change Units Index Time Change
Dow Up 397 points 16,466 2:04 PM
S&P500 Up 2.5% percent 1,940 46.88
Nasdaq Composite Up 2.4% percent 4,614 107.28
30 Year Treasury Down (3) Basis Points 2.76 Annual Yield
The stock market got a boost from the Bank of Japan. It announced that it will adopt a negative interest rate policy for the first time The central bank said it cut the deposit rate it pays on cash held at the BOJ by commercial banks in excess of required reserves, to minus 0.1% from the previous plus 0.1%. The goal is to push down borrowing costs and stimulate inflation.
Serving the West Side first I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/what-you-need-to-know-about-the-bank-of-japan-and-negative-interest-rates-2016-01-29?link=MW_popular
For today’s Closing Market Report click to listen->