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1991 - The Year of the Last Aussie Recession

Daily Recap

Stocks resumed their ascent today, aided by continued strong earnings and news that the European Central Bank will take it slow as they pare back bond purchases. In their latest decision, the ECB said it would reduce monthly bond purchases from 60 billion euros per month to 30 billion, and continue purchases through September of next year. They also said interest rates would remain at current levels well past the end of the asset purchase program.

 

The news sent most of Europe significantly higher, as the Stoxx 600 rose 1.07%. Key standouts were Spain's IBEX, up 1.92% and Italy's FTSE, up 1.61%. France and Germany's markets were also up over 1%. In Asia, the mood was also positive, with all major markets except for the Hang Seng higher. The Asia Dow rose 0.03% on the day while the Global Dow somehow managed to fall 0.12%.

 

In the U.S., shares also moved higher, with the Industrials ... Log in or subscribe to continue reading.


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