posted at 02:50
Author Name: Mike Bird
Market Update, Oct. 31
European stocks are all climbing Friday morning, after a big Asian boost following Japan's unexpected decision to extend its quantitative easing program. France's CAC 40 is up 1.62%. Spain's IBEX is up 1.48%. Italy's FTSE MIB is up 1.45%. Britain's FTSE 100 is up 0.92%. Germany's DAX is up 1.53%. Asian markets saw a massive rally. The Nikkei closed up 4.83%. The Hang Seng closed up 1.25%. US futures are climbing too: The S&P is up 16.75 points and the Dow is up 149 points. This morning, we've already had some terrible retail sales figures for Germany: with a 3.2% drop in September, they are the worst since 2007. From Europe, at 6:00 a.m ET, we have inflation and unemployment numbers. Analysts expect that unemployment stayed basically flat in the eurozone in September, and that inflation crept up from 0.3% to 0.4% in October, remaining extremely depressed. At 8:30 a.m. ET from the US, personal spending data is out. Analysts are expecting a 0.3% boost to personal income and a 0.1% boost to spending for September.

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