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Bank of Japan
March E-mini NASDAQ-100 futures posted a strong gain last week. Some of the gains came on Friday after the Bank of Japan unexpectedly adopted a negative interest rate policy for the first time. Better-than-expected earnings reports also helped underpin the index as well as stabilization in oil prices.
Although the major indices posted their worst January since 2009, Friday’s close was upbeat, leading to speculation that February will open on a higher note. On a monthly basis, the NASDAQ-100 futures contract fell 7.08% for its worst month since 2010.
Central bank activity played a role in last week’s ... (read more)