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Stocks bounce into November, focus turns to global economy

What Election Day means for stocks

Stocks launch into November at record highs, as if October was just a bad dream.

But that does not mean the volatility that punctuated October's roller-coaster trading will end, as markets focus on the activities of global central banks and weigh the health of the world economy. In the U.S., this Friday's October jobs report could be a major market event, especially since the Fed ended its bond buying program in the past week and has said its future path on interest rates will be dependent on the economy.

The Bank of Japan Friday juiced global stock markets by announcing the expansion of its already massive monetary stimulus program, and separately, the Japanese government's pension fund expanded its purchases of foreign and domestic stocks. The Dow and jumped more than a percent, adding to the week's gains. The Nikkei Friday jumped nearly five percent, and the yen plummeted to a near 7-year low against the dollar.