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China Cuts Interest Rates, Dow Jones Industrial Average Soars

The People's Bank of China slashed its interest rates for the first time in two years

by 11/21/2014 9:02:37 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:DJI) is pointed sharply higher on news that the People's Bank of China cut interest rates for the first time in more than two years. The decision was spurred by weakness in the manufacturing sector and throughout the property market. Stateside, a pair of central bank officials -- Federal Reserve Governor Daniel Tarullo and New York Fed President William Dudley -- are scheduled to speak before the Senate Banking subcommittee on investigations this morning. Meanwhile, Foot Locker, Inc. (NYSE:FL) will step into the earnings confessional.

And now, on to the numbers...

Dow Jones Industrial Average, S&P and Nasdaq futures

Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are about 119 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.2 million call contracts traded on Thursday, compared to 631,602 put contracts. The resultant single-session equity put/call ratio fell to 0.55, while the 21-day moving average edged down to 0.61.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is up 0.6% at 88.15.
  • Crude oil has popped 1.8% to $77.20 per barrel.
  • Gold is 0.9% higher -- and back atop $1,200 -- at $1,201.30 per ounce.
Currencies and commodities

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