[agagagaga] Stock opened lower on Thursday after a stunning policy decision by the Bank of Japan. In early trading, they rose a bit, with the Dow down 52 points, the S&P 500 down 2 points, and the Nasdaq green, up 8 points. To recap the big news of the day so far, the Bank of Japan shocked markets after it held off on adding stimulus to the economy by leaving interest rates and its asset-purchasing programme unchanged. Mike van Dulken at Accendo Markets commented in a note, "This has undone all of the supportive work and positive response from what its US counterpart (the Fed) had to say yesterday evening where a solid balancing act of less worries about external headwinds offsetting weaker US data allowed it to maintain its dovish stance." The yen surged after the BOJ's decision, hitting as low as 107.93 against the dollar (or 2.9%.) In economic data, the advance GDP estimate showed that the economy grew 0.5% in the first quarter, weaker than expected. And, initial jobless claims totaled 257,000 last week, less than expected. SEE ALSO: ABBOTT LABS IS BUYING ST. JUDE MEDICAL FOR $25 BILLION SEE ALSO: HERE'S WHAT'S HAPPENING IN FX Join the conversation about this story » NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy
 |
| READ THE ORIGINAL POST AT www.businessinsider.com |
