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Apple, Possible ECB Stimulus Drives Markets Higher   
Tue, 21 Oct 11:26 AM EST/04:26 PM GMT
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Economic Data
- (BR) Brazil Oct IBGE Inflation IPCA-15 M/M: 0.5% v 0.5%e; Y/Y: 6.6% v 6.7%e
- (US) ICSC Chain Store Sales w/e Oct 17th w/w: -0.3%; y/y: +2.1%
- (US) Redbook Retail Sales w/e Oct 17th: +4.1% y/y, Oct MTD: +0.1% m/m; Oct MTD: +3.9% y/y - (EU) Weekly ECB Forex Reserves: €227.3B v €227.5B prior
- (US) Sept Existing Home Sales: 5.17M v 5.10Me

Heartburn from lousing McDonalds and Coca-Cola results is not preventing markets from racking up impressive gains this morning, as traders home in on possible ECB stimulus talk and Apple's big quarter. Note that the September existing home numbers hit a one-year high. As of writing, the DJIA is up 0.68%, the S&P500 is up 1.27% and the Nasdaq is up 1.65%.

There were conflicting reports making the rounds earlier this morning that the ECB may have begun moving toward full-blown QE. Press reports out around 06:00ET asserted that the ECB was considering buying corporate debt on the secondary market in early 2015, although subsequent reports suggested the ECB had not gotten around to putting corporate bond buying on its December agenda. EUR/USD traded up to test the high end of the range seen over the last week, around 1.2840, but then moved down to 1.2720 on the later stories.

Three-way talks in Brussels between Ukraine, Russia and the EU over the pricing of natural gas supplies for Ukraine should wrap up this afternoon if not delayed. Presidents of both Ukraine and Russia reaffirmed their commitment to work towards peace, just a day after the leader of the pro-Rus ...
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