US stocks climbed as GDP data came out above expectations. Strong gains were seen the day before after the Fed decided to end quantitative easing and made hawkish remarks regarding the labor market.

Asian markets rallied as the Bank of Japan made a surprising decision to extend monetary stimulus.

European markets are higher today in reaction to the Bank of Japan’s decision. Gains are also being seen after the European CPI increased.

Oil has decreased sharply despite positive US GDP data. The drop is being caused by the US dollar which is appreciating from decisions by the Bank of Japan and Federal Reserve.

Gold also declined strongly and is currently trading around $1,164/ounce, its lowest price since 2010. Hawkish comments from the Federal Reserve boosted sentiment and increased the outlook for the economy making Gold a less attractive asset.

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4 Tips for Today's Trades

The Importance of Diversification

How I Made Over $30,000 a Year by Investing in Binary Options

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Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:

1) It's All About Japan

The Bank of Japan has shocked global markets by boosting its aggressive stimulus program in an effort to keep the country's economic revival on track.

Japan's Nikkei index surged by nearly 5% to hit a seven-year high and stock markets around the world are rallying.

Asian markets closed with significant gains and European markets have jumped by at least 1% in early trading.

US stock futures were also surging by more than 1%.

2) Stock Market Movers -- Starbucks, GoPro, Citigroup

Shares in Starbucks (SBUX) are taking a tumble -- down by about 3% premarket -- after the company said it expects profits will fall short of expectations during the next three months.

Shares in GoPro (GPRO) are surging by about 15% after the company reported a better-than-expected third quarter and issued an upbeat forecast for its business.

Meanwhile, Citigroup (C) shares are off by about 1.5% premarket after the company said it had to revise its third quarter earnings. The bank said profit was $600 million lower than previously stated due to higher-than-expected legal costs.

3) Economics

The Bureau of Economic Analysis will post monthly personal income and spending numbers at 8:30am ET.

The University of Michigan will report the final version of its monthly consumer sentiment index at 9:55am ET.

4) Thursday Market Recap

US stocks closed higher Thursday. The Dow gained 221 points. The S&P 500 closed 0.6% higher and the Nasdaq moved up by 0.4%.

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BOJ Press Conference (JPY)

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What is it? It checks the level of a diffusion index based on surveyed purchasing managers in the manufacturing industry.

It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy.

When? October 31^st at 9:00pm Eastern Time.

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Other top stories:

BOJ Press Conference (JPY)

The Importance of Diversification

How I Made Over $30,000 a Year by Investing in Binary Options

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