Market Turns Around, Erasing Earlier Losses

stock market

Photo: Google Finance

After starting the day deep in the red, markets slowly climbed.And now the Dow’s positive.

Earlier today, we learned that weekly initial jobless claims plunged to 350k, which was well below the 372k economists were expecting.

Despite the good news, market sentiment seems to remain jittery.

Last night, Korea’s central bank announced a surprise cut to their benchmark interest rate – the first such cut in three years.

Also last night, Japan’s central bank expanded its asset purchase program and Brazil’s central bank cut its benchmark rate.

All three central bank actions reflect the elevated concerns of a global economic slowdown.

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