Stocks traded higher yesterday on the back of some good earnings reports and some good economic data propelling the DOW 220 points higher.
This morning we are seeing a global rally in stocks after the bank of Japan shocked financial markets around the world last night when they announced they would provide their economy with another round of stimulus. That news send the Japanese stock market 5% higher.
Shares of GoPro rose over 10% yesterday after the bell after the company's earnings results easily topped Wall St. earnings estimates.
Shares of Starbucks fell 4.5% after the coffee house giant reported disappointing 4th quarter sales and a lower 1st quarter outlook. The decline in sales comes as the company once again try's to diversify away from their traditional coffee business be adding more packaged products and food. Stick to what you are good at!
Personal income in September was .30% higher
Consumer Spending in September was .20% lower which was the first decline in 8 months
This is an interesting story. The polling firm Ipsos Mori polled Americans and asked them what they thought the unemployment rate is in America in the month of September. The average guess was that the American unemployment rate is 32% in this country vs the actual number of 5.9%, which certainly explains why people look at me like I am crazy when I tell them the recession ended 5 years ago and the economy is getting better.