BOJ Stimulus Surprise Boosts Global Stocks

October 31, 2014 Share Print 0

U.S. stocks rose at the open on Friday as markets rallied globally after the Bank of Japan significantly ramped up its stimulus program just days after the Federal Reserve wound down its own package of U.S. economic incentives.

The Dow Jones industrial average .DJI rose 152.26 points, or 0.89 percent, to 17,347.68, the S&P 500 .SPX gained 18.49 points, or 0.93 percent, to 2,013.14 and the Nasdaq Composite .IXIC added 62.11 points, or 1.36 percent, to 4,628.25.

The Dow set a record intraday high.

via Reuters

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.