GOOD MORNING MARKETS WORLD VIEW USA Treasury 10 Year Yield 2.31% -0.03% UK Gilt 10 Year Yield 2.25% -0.02%, Spot Gold $1170.90 -1.60 Brent Crude $85.60 -0.30%. The FTSE 100 is called to open lower by -0.02% at 6,546.47 The Dow Jones Industrial Average rose +0.63%, to 17,208.78 The S&P 500 index gained +1%, to 2,001.2 The NASDAQ Composite Index edged up by +1.06%, to 4,639.45 Hang Seng China opened positive by +1.25% to 24,133.45 Nikkei 225 Japan opened positive by +1.77% to 15,817.14 COMMENTARY US stocks rose sharply on Friday, with the Dow hitting an intraday record high as the Bank of Japan significantly ramped up its stimulus program, just days after the Federal Reserve wound down its years-long package of incentives. The S&P 500 came within 0.1% of its record high, after the December e-minis contract hit an intraday record earlier. Gains were broad, with the benchmark S&P 500 index posting 124 new 52-week highs and two new lows; and the Nasdaq Composite recording 214 new highs and 31 new lows. Among the biggest positives on the S&P 500, Abbvie shares rose 4% after the drug maker reported quarterly earnings and said it could deliver strong long-term growth without rushing into another big merger attempt. The BoJs (Bank of Japan) board voted to accelerate purchases of Japanese government bonds while tripling its purchases of exchange-traded funds and real-estate investment trusts. That could help the outlook for stocks, especially if the US economy keeps improving. LOOKING LOCAL JSE All-Share positive by +1.69% to 49,714.45 JSE Top 40 in positive by +1.83% to 44,399.32 COMMENTARY THE JSE all share ended the week on a high note as risk-on sentiment swept global markets when Japan announced an increase to its asset-buying measures two days after the US ended quantitative easing (QE). Global markets appear to have shrugged off the more hawkish outlook by the US Federal Reserve on Wednesday‚ after it ended QE officially. It also indicated rates should begin to be hiked in about June next year. CURRENCIES CHECK 03/11/2014 USD/RAND R11.06 GPB/RAND R17.66 EURO/RAND R13.81 Complied by Gareth Chamier
Posted on: Mon, 03 Nov 2014 08:55:27 +0000
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