[...] after flirting with a correction, or a 10 percent drop, the U.S. market rebounded and closed at all-time highs on the last day of the month. The announcement came after data showed that the world's third-largest economy remains in the doldrums, with household spending dropping and unemployment ticking up. Investors have been hopeful that the European Central Bank might also start buying bonds to stimulate that region's economy by keeping interest rates low and injecting cash into the financial system. "The Japanese central bank has taken the QE baton from the Fed, and equity traders couldn't be happier," said David Madden, market analyst at IG. European stock markets rose broadly following the Bank of Japan's announcement on hopes that the ECB could be tempted to follow Japan's lead in stepping up stimulus measures. "The willingness of the Bank of Japan to ease further in the fight against deflation will encourage those who think the ECB should be doing the same," said Julian Jessop, chief global economist at Capital Economics. In other markets, the price of U.S.
Comment on US stocks end a turbulent month at a record high
By KEN SWEET, AP Business Writer, Seattle Post-Intelligencer: Business
Fri, 10/31/2014 - 9:32pm
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