US, global stocks get big boost from Bank of Japan

Specialist Michael Pistillo, left, works with traders at his post on the floor of the New York Stock Exchange, Friday, Oct. 31, 2014. U.S. stocks are opening higher following big gains in Asia after Japan made moves to rev up its economy. (AP Photo/Richard Drew) Specialist Michael Pistillo, left, works with traders at his post on the floor of the New York Stock Exchange, Friday, Oct. 31, 2014. U.S. stocks are opening higher following big gains in Asia after Japan made moves to rev up its economy. (AP Photo/Richard Drew)

By Associated Press October 31, 2014 1 min read

NEW YORK (AP) – Stocks markets are rising around the globe after Japan’s central bank surprised investors with a new round of economic stimulus.

The gains put major U.S. indexes back to the record high levels they were at just six weeks ago, erasing a mid-October swoon that brought the market down nearly 10 percent.

The Standard & Poor’s 500 index rose 20 points, or 1 percent, to 2,015 as of 11:50 a.m. Eastern time Friday.

The Dow Jones industrial average rose 177 points, or 1 percent, to 17,372. The Nasdaq rose 58 points, or 1.3 percent, to 4,624.

Japan’s benchmark Nikkei index soared 5 percent to the highest level since 2007.