Spreadex Market Update
US Stocks Open Higher
Asian stocks made minor gains overnight with the major news being that the Bank of Japan would expand the potential of its asset purchasing programme by $138 billion. The Nikkei, however, fell slightly on the news, with the figure being within expectations.
The pre-market call was that European markets would fail to follow suit as that familiar foe the Eurozone debt crisis is once again due to be the hot topic of conversation today, with Mario Draghi due to speak later and German unemployment data and European retail PMI figures also providing likely movement in equity and currency markets, however so far European indices have defied expectations.
There will be no trading in New York again today as Hurricane Sandy continues to torment the City and the East Coast, however it is said that some electronic trading will take place.
It had been rumoured that the NYSE trading floor had been damaged under 3 feet of water, however these rumours now appear to have been unfounded.
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