Sweet Treat for Wall Street

Stocks could hit a record high on this Halloween.
3:07 | 10/31/14

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Transcript for Sweet Treat for Wall Street
Okay. It's Friday October 31 the market to New York are open and her big number is 200. Tricked let's just say it's a Halloween treat for investors on Wall Street stock futures are for Italy. Good this morning up to a viewpoints how long the molasses we. He person there set to ring opening bell hello everyone on Thai Hernandez in New York we could have a new record high. At the opening here with details business reporter Greg Greenberg from thestreet.com. Hello Greg laughing displayed scary on Wall Street today at different story what's driving the market up this morning. Well we certainly got a treat from the Bank of Japan they're going to be buying everything that's not nailed down. They're going to be buying bonds and stocks and ETFs and reads all to promote inflation which is been lagging in Japan. And also to weaken the yen is now I think around 112. Japan is an export economy. May need a weak yen so hopefully this will help them and then what a lot of people are thinking is that if Japan stimulates its economy. Maybe Mario drug in Europe we'll come and do the same thing and that. We'll get some growth from Europe we'll get some growth in Japan and they'll help the US is we saw a US growth at 3.5 percent in the third quarter which is pretty good. Our rights and given the these fabulous futures could the Dow hit a record high today. Yeah I think we're looking at a record I think it's 171300. Last I checked we have the S&P which is what Wall Street generally watches at around 2010. And earnings have also been good we've seen some great numbers from financials. Also from the industrials tech is been mixed but you have to remember that it all comes back down to corporations in the earnings have been good. What stood on the market off over the past month the things like Ebola and Ukraine that's cause a lot of volatility. But so far today we haven't heard anything on the international front on the Ebola front so it seems like skinny blue skies for this Halloween. All right we're also expecting some US data reports out later including consumer spending are we expecting this to how are her. Look what's helping the consumer right now is lower oil prices I think in the city nine dollars a barrel people very excited about this so when they drive to the mall will have. More money to spend on Christmas presents the retailers like that. So lower oil is really helping the consumer. The consumers feeling pretty confident we have low interest rates the Fed is keeping rates low for a considerable time. I think that right now consumers fill in pretty good. I would also are going to be watching for today other than our waist lines and all the can't he would have he having. I think that organist see a lot of people just watching the Dow hit a new record so going to be reading a lot of stories about that over the weekend and once you start seeing. Record numbers on the Dow and the S&P sorting the front page of the newspapers. That's when your individual traders or retail investors start watching and they may start coming in a little bit more because they're seeing it and things like USA today. All right Ted Greenberg from thestreet.com thank you so much for joining us. Gingrich keep up thanks Gregg keep up with the latest headlines right here on abcnews.com even watching the big number I'm tired Hernandez in New York.

This transcript has been automatically generated and may not be 100% accurate.

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