AI
Friday, November 05, 2010 1:46:51 AM
Market was in an up beat mood since Dr. Ben talking about rescue in Aug this summer.
Asian markets rallied Friday after U.S. shares closed at their highest level since just before Lehman Brothers collapsed in 2008 as the Fed's latest attempt to lower long-term interest rates sent investors flocking to stocks.
Japan's benchmark Nikkei 225 stock index jumped 251.52 points, or 2.7 percent, to 9,610.30 in the morning session. South Korea's Kospi added 0.5 percent to 1,952.30 and Australia's S&P/ASX 200 gained 1.0 percent to 4,867.60.
Hong Kong's Hang Seng index climbed 1.5 percent to 24,914.60. China's Shanghai Composite Index rose 1.1 percent to 3,120.81. Shares in New Zealand, Singapore and Taiwan were all higher.
In New York, the Dow Jones industrial average surged 219 points, or 1.9 percent, to close at 11,434.84 on Thursday, the highest closing level since just before Lehman Brothers went under in September 2008, triggering the global financial crisis.
The Federal Reserve's decision Wednesday to spend $600 billion buying Treasury bonds over the next eight months in an attempt to spur economic growth is expected to lower long-term interest rates, making stocks a more attractive investment.
The move has also boosted the prices of commodities like oil since expectations the Fed would increase the money supply have weakened the dollar, which is the currency most commodities are traded in. A weaker dollar makes commodities more attractive to investors holding other currencies.
In currencies, the dollar inched up to 80.78 yen from 80.73 yen in New York late Thursday. The euro rose to $1.4212 from $1.4211
Benchmark crude for December delivery was up 40 cents at $86.89 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose $1.80 to settle at $86.49 a barrel on the New York Mercantile Exchange.
http://news.yahoo.com/s/ap/20101105/ap_on_bi_ge/world_markets
QQQQ forming an interesting doji today, let's see will it close down in red on Friday
Asian markets rallied Friday after U.S. shares closed at their highest level since just before Lehman Brothers collapsed in 2008 as the Fed's latest attempt to lower long-term interest rates sent investors flocking to stocks.
Japan's benchmark Nikkei 225 stock index jumped 251.52 points, or 2.7 percent, to 9,610.30 in the morning session. South Korea's Kospi added 0.5 percent to 1,952.30 and Australia's S&P/ASX 200 gained 1.0 percent to 4,867.60.
Hong Kong's Hang Seng index climbed 1.5 percent to 24,914.60. China's Shanghai Composite Index rose 1.1 percent to 3,120.81. Shares in New Zealand, Singapore and Taiwan were all higher.
In New York, the Dow Jones industrial average surged 219 points, or 1.9 percent, to close at 11,434.84 on Thursday, the highest closing level since just before Lehman Brothers went under in September 2008, triggering the global financial crisis.
The Federal Reserve's decision Wednesday to spend $600 billion buying Treasury bonds over the next eight months in an attempt to spur economic growth is expected to lower long-term interest rates, making stocks a more attractive investment.
The move has also boosted the prices of commodities like oil since expectations the Fed would increase the money supply have weakened the dollar, which is the currency most commodities are traded in. A weaker dollar makes commodities more attractive to investors holding other currencies.
In currencies, the dollar inched up to 80.78 yen from 80.73 yen in New York late Thursday. The euro rose to $1.4212 from $1.4211
Benchmark crude for December delivery was up 40 cents at $86.89 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose $1.80 to settle at $86.49 a barrel on the New York Mercantile Exchange.
http://news.yahoo.com/s/ap/20101105/ap_on_bi_ge/world_markets
QQQQ forming an interesting doji today, let's see will it close down in red on Friday
My post is for my own entertainment, do your own DD
before pushing your buy/sell buttons
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