Good morning!
Stock market futures saw their gains double this morning (Friday) after China's central bank surprised markets by cutting rates. It dropped its one-year loan rate by 0.4 percentage points, and its one-year deposit rate by 0.25 percentage points. Dovish words from European Central Bank (ECB) President Mario Draghi - that the ECB will likely step up its asset buying - also fueled the stock market futures rally.
Dow futures surged 0.9%, S&P 500 futures rose 0.8%, and Nasdaq 100 futures gained 0.8% after the news.
Yesterday, the Dow and the S&P 500 both closed at record highs following strong performances in the energy sector.
Watch for the market's attention today to shift to an update on the Kansas City Fed Manufacturing Index. Regional indexes provide insight into the expansion of U.S. manufacturing, a lynchpin of economic growth.
Here's what else you should know about the stock market today - including your "Money Morning Tip of the Day" - to make it a profitable Friday:
Full U.S. Economic Calendar November 21, 2014 (NYSE: all times EST)