Insight on the Fed's latest stimulus move, with Lance Roberts, Streettalk Advisors, and Ethan Harris, BofA Merrill Lynch Global Research; and CNBC's Rick Santelli.
By NBC News wire services
Updated at 10:20 p.m. ET: Stocks climbed Friday, adding to the multi-year highs seen on Thursday, as investors lauded an aggressive plan by the Federal Reserve to stimulate the economy.
The Dow Jones industrial average was lately up over 100 points.
The Federal Reserve launched another stimulus program on Thursday, its third quantitative easing measure, saying it would pump $40 billion into the economy each month until the jobs market showed sustained growth.
"[The Fed] is the obvious market driver of today and probably will continue for the next day or two," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.
Treasury bonds tumbled Friday as the Fed?s actions cut demand for safe assets. Yields rose sharply.
The Fed's announcement Thursday pushed the Dow and S&P 500 to their highest levels since December 2007 and the Nasdaq to its highest close since November 2000.
It also pushed the dollar lower, boosting commodities by raising the allure of those priced in a weaker U.S. currency.
Staples Inc gained after Fortune reported several private equity firms, including Bain Capital, were considering a buyout offer for the office retailer.
Home Depot Inc, the world's largest home improvement chain, will close all seven of its big box stores and cut 850 jobs in China as the retailer changes its focus in the Chinese market to online and specialty stores, becoming the latest retailer to feel the chill from China's slowing economy.
Reuters contributed to this report.
Source: http://marketday.nbcnews.com/_news/2012/09/14/13861615-stock-add-to-rally-buoyed-by-fed-plan?lite
esophageal cancer marfan syndrome marfan syndrome britney spears engaged craig smith craig smith eat to live
No comments:
Post a Comment