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Morning Market Stir: China Rate Cut Boosting International Equities and Commodities

Equities hitting record highs this morning

Friday, November 21 – Alan Knuckman reports from the floor of the CME Group in Chicago where equities were up slightly yesterday. The e-mini S&P futures closed at 2,052, the Dow ended at 17,694, and the Nasdaq regained its prior day loss to 4,245. The dollar drifted to 87.67, pushing the Euro to 1.2552. Bonds were up 11 ticks to 141'18. Crude continued to base out, closing at 75.85, and gold held at 1,191. This morning, equities are breaking out to new highs following the rate announcement out of China. The dollar is up, pushing the euro down, and bonds are steady. Crude and gold are strong despite the recovery in the dollar.

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