Daily Analysis – Stocks Rally, ECB Cuts Interest Rates

By Binary Options StrategyStock MarketsNov 11, 2011 05:49AM ET

www.investing.com/analysis/daily-analysis-%E2%80%93-stocks-rally,-ecb-cuts-interest-rates-105307

Daily Analysis – Stocks Rally, ECB Cuts Interest Rates

By Binary Options Strategy | Nov 11, 2011 05:49AM ET

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Equities

Asian markets dropped on Thursday, despite Wednesday’s rally in Western markets. Korea’s Kospi sank 1.5%, weighed down by LG Electronics, which tumbled 14%. Australia’s ASX 200 slipped .3%, and the Hang Seng lost 2.5%, as heavyweight HSBC dropped nearly 3%. The Shanghai Composite inched up .2%, bucking the trend, and Japanese markets were closed for a holiday.

European shares rallied, amid hopesGreecewould abandon a plan for a referendum on last week’s bailout package. The CAC40 rallied 2.7%, the DAX jumped 2.7%, and the FTSE rose 1.1%. The ECB unexpectedly cut interest rates by .25%.

European leaders pledged thatGreecewould not receive any additional aid if it did not approve last week’s bailout package.

US markets followed Europe higher. The Dow rallied 208 points to 12044, the Nasdaq climbed 2.2%, and the S&P 500 advanced 1.9%.

Dow Rallies more than 200 Points

Qualcomm shares soared 7.5% after beating analyst forecasts and raising its outlook. In contrast, Kellogg shares sank 7.6% after issuing a weak outlook.

Currencies

The Dollar remained under pressure despite the ECB’s rate cut. The Euro rose .7% to 1.3813, recovering from an earlier drop down to 1.3658. The Australian Dollar rallied 1% to 1.0406, and the Canadian Dollar jumped .8% to 1.0075, as investors flocked to risk. The Pound and Swiss Franc both rose .7%, and the Yen inched up .1% to 78.05.

Economic Outlook

Weekly jobless claims dropped to 397K, 9000 less than last week, and better than forecast. Worker productivity jumped to 3.1%, more than expected, and factory orders unexpectedly rose by .3%.

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Central Banks

Interest Rates

Next Meeting

FED

4.50%

Mar 19, 2025

ECB

2.90%

Mar 06, 2025

BOE

4.50%

Mar 20, 2025

SNB

0.50%

Mar 20, 2025

RBA

4.35%

Feb 18, 2025

BOC

3.00%

Mar 12, 2025

RBNZ

4.25%

Feb 19, 2025

BOJ

0.50%

Mar 19, 2025

CBR

21.00%

Feb 14, 2025

RBI

6.25%

Mar 10, 2025

PBOC

3.10%

BCB

13.25%

Mar 19, 2025

US 30	44,443.4	+74.7	+0.17%
US 500	6,058.5	+6.6	+0.11%
Dow Jones	44,368.56	-225.09	-0.50%
S&P 500	6,051.97	-16.53	-0.27%
Nasdaq	19,649.95	+6.10	+0.03%
S&P 500 VIX	15.78	-0.11	-0.69%
Dollar Index	107.680	-0.143	-0.13%

Crude Oil WTI	70.54	-0.83	-1.16%
Brent Oil	74.26	-0.92	-1.22%
Natural Gas	3.733	+0.168	+4.71%
Gold	2,936.14	+7.44	+0.25%
Silver	32.625	-0.160	-0.49%
Copper	4.7125	+0.0080	+0.17%
US Soybeans	1,025.25	-2.50	-0.24%

U.S. 10Y	4.577	-0.057	-1.23%
U.S. 30Y	4.787	-0.048	-0.99%
U.S. 5Y	4.421	-0.061	-1.36%
U.S. 3M	4.332	-0.006	-0.14%
US 10Y T-Note	108.67	+0.41	+0.38%
Euro Bund	132.78	+0.55	+0.42%
10-2 Yield Spread	26.59	+2.03	+8.27%

Apple	236.87	+4.25	+1.83%
Alphabet A	183.61	-1.71	-0.92%
Tesla	336.51	+8.01	+2.44%
Amazon.com	228.93	-3.83	-1.65%
Netflix	1,027.31	+19.23	+1.91%
Meta Platforms	725.38	+5.58	+0.78%
Bank of America	46.21	-0.58	-1.24%

Daily Analysis – Stocks Rally, ECB Cuts Interest Rates

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