Switzer on Saturday

A festive financial finish is foreshadowed

Founder and Publisher of the Switzer Report
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Friday Close
Change
Change %
Week Change %
Dow Jones
17,646.70
157.54
0.90%
2.50%
S&P 500
2,075.15
22.64
1.10%
2.07%
NASDAQ
5,031.86
111.81
2.27%
2.97%
ASX 200
5,351.60
87.80
1.67%
1.58%
Data for week commencing 19 October

The good vibes and times from stock markets are set to keep on rolling, with the Peoples Bank of China announcing its sixth rate cut in 11 months. Wall Street liked it, with the Dow up over 150 points!!!!!!!! I said a few weeks back that we were going to need either pretty good US earnings or an externally generated positive event, especially from China and we're getting that and more.

This week we saw suggestions that Japan might add more QE, Europe too could be joining in and now China is cutting rates again to give it a chance to grow at 7%. These efforts to create economic growth and keep interest rates low will help stock prices.