Japan's move to significantly boost its stimulus program sent the Dow and S&P to all-time highs. Fred Katayama reports.
The Dow and S&P 500 rocketed to an all-time high, extending the strong bounce-back rally that began last week. Setting off the buying frenzy: Japan money. Just as the U.S. tightened its monetary spigots, Japan further unleashed theirs with a big boost to its stimulus program. The Dow and S&P 500 added more than one percent; the Nasdaq, 1.4 percent. For the month, the Dow and S&P tacked on roughly 2 percent. The Nasdaq gained 3 percent. Corporate earnings also supported the rally. LinkedIn bucked the trend among social media stocks with its earnings report, causing its stock to surge. Its quarterly profit and revenue beat expectations, and more businesses used its services. It's rapidly signing up new users in China. Investors jumped on Groupon, driving its price up by a fifth. The purchase of a South Korean e-commerce company helped Groupon fatten its billings. Several brokerages raised their price targets on the provider of online discount coupons. But the stock still trades at less than a fourth of its peak. Get set to see a lot of GoPro cameras in Christmas stockings. Shares of the wearable action camera maker gapped up after it issued a surprisingly rose forecast for the holiday quarter. GoPro also handily beat analysts estimates. Raining down on the parade: Tempur Sealy International. The mattress maker's stock dropped after it cut its full-year profit forecast. In Europe, shares posted their biggest weekly gain of the year, fueled by the Bank of Japan's stimulus move.