The Hang Seng added close to 1% with Wharf Holdings being the index’s biggest gainer jumping
4.87%. China made a surprise 25 basis point cut in interest rates today, helping stocks and in hopes of
bolstering the struggling economy.
Euro stocks are gaining this morning in hopes of upcoming policy action, helped out by Spain selling
2.1b worth of medium and long term bonds. Eyes are now looking to the US and Bernanke who will be
addressing the state of the economy later today.
Smucker’s (SJM) gains 2% in pre-trading after their EPS beat expectations by $.12.
FEI approved a quarterly cash dividend and declared the company’s first of $.08/share.
Crude is back in a downswing, as is natural gas and gold with silver posting up in green close to 3%.
Down is the Euro this morning, compared to the dollar, while the pound gained.
Contributer Chris Rygh is currently pursuing his MBA in Wisconsin and has a passion for the Market.
Comments can be directed to ryghcw19@uww.edu