Equities
Asian markets traded mostly higher on Friday, as expectations for a coordinated central bank move lifted stocks. The Hang Seng surged 2.3% to 19234, the Shanghai Composite gained .5% to 2307, and the ASX 200 rose .4% to 4057. The Nikkei closed flat, while the Kospi slumped .7% to 1858, as Samsung Electronics fell 3.5%.
The rally gained momentum in Europe, as the CAC40 jumped 1.8%, and the DAX climbed 1.5%. The FTSE posted a much narrowed gain of .2%. Banking shares led the advance, as the European banking index rallied 2%.
Across the Atlantic, the rally continued. The Dow added 115 points to 12767, the S&P 500 gained 1% to 1343, and the Nasdaq advanced 1.3% to 2872.
Dow Tacks On 115 Points
Facebook shares jumped 6.1% after filing a motion to consolidate all lawsuits against the company related to its IPO.
Currencies
The pound jumped 1.1% to 1.5710 in response to news that the Bank of England will pump 100 billion pounds into the banking system to improve liquidity in the country. The yen rallied .8% to 78.72, and the Australian dollar advanced .6% to 1.0081. The euro and Swiss franc both rose less than .1%.
Economic Outlook
The Empire State manufacturing index tumbled last month, dropping to 2.3 from 17.1. Analysts had expected a much smaller drop to 13.6. Consumer sentiment also declined, dropping to 74.1 from 79.3.
Asian markets traded mostly higher on Friday, as expectations for a coordinated central bank move lifted stocks. The Hang Seng surged 2.3% to 19234, the Shanghai Composite gained .5% to 2307, and the ASX 200 rose .4% to 4057. The Nikkei closed flat, while the Kospi slumped .7% to 1858, as Samsung Electronics fell 3.5%.
The rally gained momentum in Europe, as the CAC40 jumped 1.8%, and the DAX climbed 1.5%. The FTSE posted a much narrowed gain of .2%. Banking shares led the advance, as the European banking index rallied 2%.
Across the Atlantic, the rally continued. The Dow added 115 points to 12767, the S&P 500 gained 1% to 1343, and the Nasdaq advanced 1.3% to 2872.
Dow Tacks On 115 Points
Facebook shares jumped 6.1% after filing a motion to consolidate all lawsuits against the company related to its IPO.
Currencies
The pound jumped 1.1% to 1.5710 in response to news that the Bank of England will pump 100 billion pounds into the banking system to improve liquidity in the country. The yen rallied .8% to 78.72, and the Australian dollar advanced .6% to 1.0081. The euro and Swiss franc both rose less than .1%.
Economic Outlook
The Empire State manufacturing index tumbled last month, dropping to 2.3 from 17.1. Analysts had expected a much smaller drop to 13.6. Consumer sentiment also declined, dropping to 74.1 from 79.3.