REUTERS/Alessia PierdomenicoMarkets are closed in the U.S. for Independence Day.
But they were open in Europe, and they went totally nuts.
England's FTSE 100 jumped 3.0%.
France's CAC 40 rallied 2.9%.
Germany's DAX climbed 2.1%.
Spain's IBEX 35 gained 3.0%.
Italy's FTSE MIB surged 3.4%.
These moves came in the wake of two big central bank announcements.
Bank Of England
First, was the Bank of England. Today was the first Monetary Policy Committee meeting with Canadian Mark Carney at the helm, and the markets are feeling it. In its statement, the BoE said it would look into giving forward guidance.
The dovish tone of the statement also caused the pound to tank.
Later, the European Central Bank straight up gave forward guidance.
"Looking ahead, our monetary policy stance will remain accommodative for as long as necessary," said ECB president Mario Draghi during his press conference. "The Governing Council expects the key ECB interest rates to remain at present or lower levels for an extended period of time."
"The risks surrounding the economic outlook for the euro area continue to be on the downside," added Draghi. "The recent tightening of global money and financial market conditions and related uncertainties may have the potential to negatively affect economic conditions."
The euro tanked on that commentary.
But on the flip side, stock markets surged.
Portugal is up more than 3%. This follows yesterday's 6% plunge in the wake of the surprise resignation of the country's finance minister.
"The political crisis that’s unfolding in Portugal is a reminder that staying the course on fiscal consolidation and structural reform crucially depends on the ‘buy in’ of the politicians and the population at large," said Morgan Stanley's Daniele Antonucci. " A U-turn in policy might perhaps be averted – as the situation is such that there’s little alternative to the current path – but the news flow surely has become more negative."
Meanwhile, the Egyptian stock market is up 7% today, and is currently at its highest level in a month.
This comes a day after the military ousted Egyptian president Mohamed Morsy.
The U.S. stock markets will reopen at 9:30 a.m ET Friday. But before the open, we'll get the all-important June jobs report from the Bureau of Labor Statistics.
Economists estimate that U.S. companies added 165,000 net new payrolls in June. They also expect the unemployment rate to fall to 7.5% from 7.6% in May.
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