Federal Reserve announcement, market is looking for Quantitative Easing of $500 billion to $4 trillion (buying assets to provide liquidity and keep interest rates low).
Canada’s August GDP rose 0.3%, as expected, vs a decline of 0.1% in July
US Q3 GDP rose 2%, as expected, vs an increase of 1.7% in Q2. Still considered too slow.
UK Q3 GDP rose 0.8%, better than expected, vs an increase of 1.2% in Q2. S&P says UK no longer faces risk of downgrade.
US Corporate Outlook
US companies have almost $1 trillion of cash on their balance sheets. The ratio of cash to capital expenditures is 1.64 times, possible an all time high, compared with 1.1 times in December 2008.
National Association of Business Economics said that employment conditions improved in Q3 to the highest level since the start of 2008-2009 recession. Industry demand, corporate profits, business costs and capital spending all strengthened.