From The Trading Floor: Additional stimulus measures signaled by China and Europe have US equity markets trading at record levels, on target to finish a 5th week of gains
The People's Bank of China lowered its one‐year benchmark lending rate for the first time in two years by 40 basis points to 5.60% and its one‐year benchmark deposit rate 25 basis points to 2.75%.
ECB President Draghi made a comment earlier today that eurozone inflation has become increasingly challenging and that the central bank is ready to act fast and do more if current trends continue.
President Obama has outlined plans to use executive authority to help millions of illegal immigrants, granting them the chance to apply for work permits and a temporary reprieve from deportation. "I will make it easier and faster for high-skilled immigrants, graduates and entrepreneurs to stay and contribute to our economy, as so many business leaders have proposed
The Fed has launched a review over how it supervises major banks, amid growing criticism of the Fed’s oversight and recent accusations. The issue will be the focus of a Senate Banking committee hearing today that features NY Fed President William Dudley as chief witness, examining "regulatory capture," a term used for regulators that are too cozy with firms they oversee.
Kansas City Fed Manufacturing Activity is at 11:00 today
Resistance today looks to be at the 2057 / 2060 level with support at 2044 / 2047
