| The KUIK Morning Market Report for Friday, November 21: | |||||||
| Markets are up | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 145 | points | 17,864 | 7:03 AM | ||
| S&P500 | Up | 0.8% | percent | 2,070 | (3.08) | ||
| Nasdaq Composite | Up | 0.7% | percent | 4,735 | (26.73) | ||
| 30 Year Treasury | Up | (2) | Basis Points | 3.04 | Annual Yield | ||
| A surprise rate cut from China’s central bank and dovish comments from European Central Bank President Mario Draghi sent U.S. stocks soaring in early trade. Draghi said the ECB will do what it “must to raise inflation and inflation expectations as fast as possible,” at a banking conference in Frankfurt. And China’s central bank cut its one-year loan and one-year deposit rate to stimulate its economy. | |||||||
| The European Central Bank also announced today that it is buying asset-backed securities, as tries to get banks to lend and revive the economy. Bank President Mario Draghi at a press conference back in October said the purchases are expected to go on for two years. | |||||||
| President Obama yesterday in a prime-time address announced his immigration plan. The plan will give more than four million illegal immigrants the chance to apply for work permits and a temporary reprieve from deportation. People who have been in the U.S. for at least five years and are parents of citizens or legal permanent residents would be eligible to apply for the protections. The White House said nearly a million more could benefit through other new or expanded programs. The president is also narrowing the group of people who would be subject to deportation, in what the White House said was an effort to direct enforcement resources to gang members, serious criminals, and recent border crossers. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-stocks-soar-at-open-sp-500-dow-at-records-2014-11-21?dist=markets | |||||||
| http://www.marketwatch.com/story/ecb-begins-buying-asset-backed-securities-under-private-qe-2014-11-21 | |||||||
| http://www.marketwatch.com/story/obamas-move-to-protect-4-million-plus-immigrants-2014-11-20 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||