Mario Draghi, president of the European Union’s (EU) central bank, is calling for an interest-rate cut to help bolster Europe’s sagging recovery. Analysts’ estimates for European Union GDP growth in Q3 show just a 0.1 percent increase. Specifically, German economic growth is expected to slow, French growth has stalled and Italian economy growth is non-existent as the country is still mired in “an unprecedented slump.” Although there are a few bright spots in the EU — Spain comes to mind — the overall picture, according to Draghi, requires the European banking community to take action and to reduce rates. Should that happen, the easy-money train will only gather momentum… and the markets will continue to hum along on artificial stimulus.
Last week was a positive one for U.S. markets with the Dow Jones up 0.94% and the S&P 500 climbing 0.51%. Global markets, however, continued their recent pullback, with the MCSI Emerging Markets Index down 3.10%.
Big gainers in your Bull Market Alert portfolio included WellPoint, Inc. (WLP), which jumped 2.25%, and Trina Solar Limited (TSL), which gained 2.61%. Wellpoint also rose back above its 50-day moving average and is now back to a BUY.
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