November 21, 2014- Stocks Rise on China Rate Cut

Early indications suggest that Wall Street stocks may open sharply higher on Friday, as traders cling onto their optimism. Asian stocks closed mostly higher earlier in the global trading day, while the European markets are also seeing significant strength following European Central Bank President Mario Draghi's dovish speech at the Frankfurt European Banking Congress. "We will continue to meet our responsibility — we will do what we must to raise inflation and inflation expectations as fast as possible, as our price stability mandate requires of us," Draghi said. Meanwhile, there have been disconcerting developments on the corporate front, as most companies, which reported Thursday after the market close, issued weak guidance. In the absence of any major catalysts, traders may brace for a volatile session ahead of the release of some key data next week.