Most European Central Bank policy makers judged that buying government debt was the only option big enough to fight the threat of deflation when they met last month, an official account of the debate shows.
Gold and silver are feeling the pressure of the combined drag of deflationary fears in the Eurozone, a slowing Asia and a stronger U.S. dollar. Gold finished the month of October down 3.3% and Silver down 5.6%.
Energy companies led gains, with Exxon Mobil Corp. and Chevron Corp. each rising 2.4 percent. LinkedIn Corp. soared 13 percent after third-quarter sales exceeded estimates. GoPro Inc. jumped 13 percent after its prediction for fourth-quarter profit surpassed analysts’ projections.
In today’s Asian session, the Bank of Japan shocked traders by increasing its already-massive Quantitative Easing program by another 30 trillion yen per year, bringing the total yearly purchases to a total of 80 trillion yen.