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.
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