The markets rallied this afternoon after the Federal Reserve announced it would embark on another round of stimulus, saying it will buy $40 billion dollars worth of mortgage-backed securities a month.
This announcement comes after a disappointing jobs report this morning. The Labor Department is reporting a larger than expected increase in initial jobless claims, up 15,000 to a seasonally adjusted 382,000. Economists were expecting an increase to 370,000.
Also from the Labor Department this morning, its seasonally adjusted producer price index rose 1.7 percent in August, which marks the biggest gain since June 2009.
Shares of Apple (NASDAQ:AAPL) rose to an all-time high, just one day after the unveiling of the new iPhone 5. Several brokerages have upped their price targets on the company.
Tomorrow, we'll take a look at retail sales as well as the consumer sentiment report.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.