Stocks set to jump after China bank move

By msnbc.com news services

Stocks are set to rise at Wednesday?s opening bell, erasing earlier losses, after China said it was cutting its bank reserve requirement ratio by 50 basis points.

China's central bank cut the reserve requirement ratio for its commercial lenders for the first time in nearly three years to ease credit strains and shore up an economy running at its weakest pace since 2009.

The move comes amid increasing concern among policymakers worldwide that the global economy is on a slippery slope as the euro zone struggles to decisively tackle its two year debt crisis. Global markets recovered early losses on the news.

In U.S. economic news, the ADP Employment report for November, due later in the morning, is expected to show its best reading since April and the third consecutive gain greater than 110,000.

Each month, ADP releases a report on whether private employers added any jobs in the prior month. The report is often used as a gauge heading into the government's monthly employment report, which is due out Friday.

The Associated Press and Reuters contributed to this report.

Source: http://bottomline.msnbc.msn.com/_news/2011/11/30/9113619-stocks-set-to-jump-on-china-bank-move

reo reo chilis snow white and the huntsman snow white and the huntsman philip rivers chanukah