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Daily Scan: Stocks end week on a high note; Hurricane Patricia hurtles toward Mexico

By NexChange
Capital Markets

Updated throughout the day

October 23

Good evening. Stocks rallied again Friday after some strong earnings reports and possible ECB stimulus coming soon. The Dow gained 0.9% Friday, after steady growth all day. The S&P 500 rose 1.1% and the Nasdaq added 2.3%. The Peoples Bank of  China announced it is lowering its benchmark rate 0.25% to 4.35% --  the sixth such move since November. Stocks took off on the news in Europe. This follows news on Thursday that the European Central Bank was likely to continue its easy money program in December.

Here’s what else you need to know:

Here comes Patricia. Mexico is battening down the hatches as the strongest hurricane ever recorded heads toward the country's Pacific coast. Winds are reaching 200-mph, making this storm the most dangerous as well. CNN

Nigeria bombing kills 37. At least 37 people were killed and more than 100 wounded Friday when bombs went off in mosques. Militant group Boko Haram is suspected to be behind the attack. Reuters

Jeb Bush slashes campaign staff pay. Bush's presidential campaign has been floundering, and the staff are feeling the pressure. Besides hefty pay cuts, job functions will change as the campaign shuffles to stay alive. Politico

Died: Pimco's Walter Gerken. The 93-year-old Gerken served as chairman and CEO of Pacific Life Insurance from 1975 to 1986. In the 1960s, Gerken helped turn the firm's investment unit into the separate subsidiary that became Pimco in 1971. New York Times

That other guy drops out of the Democratic presidential race. Lincoln Chafee, the former governor and senator of Rhode Island that no one really knows, has dropped out of the presidential race. The former Republican and former Independent was a long shot candidate, and never gained real traction with voters. And then there were three... Politico

French bus crash leaves 42 dead. A tour bus collided with a truck in southern France Friday, killing at least 42 people. Only eight people "escaped the flames." Most of the bus passengers were elderly people on holiday. The crash was the worst road accident in France since 1982. CNN

Google, Amazon in the stratosphere on strong earnings.  It wasn't enough that Google, now a subsidiary of Alphabet, has joined Apple in the $500 billion+ club after blow out earnings.  Plus, the newly restructured company announced a $5.1 billion stock buyout. That is some debut. Meanwhile, Amazon shocked with two consecutive quarters of earnings, pushing its capitalization to more than $300 billion. MarketWatch

Google has six properties with more than 1 billion users. That's Facebook times six. Wowser. MarketWatch

Microsoft joined the earnings surprise hit p

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