Market Wrap: China Chops: Banks, Unite!: Boeing/Machinists Play Nice; Pending Sales Skyrocket

Market wrap-up for November 30th

End of the Day: Dow Jones up 490 to 12,045.68; Nasdaq up 104.8 to 2,620.34; S&P 500 up 51.7 to 1,246.96

The following is a brief summary of events moving markets today:

• China chops: The People's Bank of China cut its reserve ratio by one-half percent to 21 percent today, freeing up an estimated $61 billion in funds for banks to lend.
  
  This is the first time since December 2008 the bank has cut its requirement.
  
  
• Banks, unite!: U.S. markets had a markedly better session Wednesday, following central banks acting to stabilize European financial markets, and essentially global markets. Though fundamental issues still need to be hashed out, the move sets the tone for financial ministers to act in order to provide a more stable union.
  
  According to the WSJ, "The Federal Reserve, the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank and the Swiss National Bank agreed to lower the pricing on the existing temporary U.S. dollar liquidity swap arrangements." Click here for more.
  
  
• Boeing being nice: Boeing (NYSE: BA) had an up day, with reports of the company reaching an agreement with International Association of Machinists and Aerospace Workers over the 737 MAX only bolstering the move. Though it seems like a simple agreement, the move would ease supply-chain and production issues as it looks to ramp up production of the 737 MAX.
  
  
• More buyers commit to homes: According to data from the National Association of Realtors, pending home sales rose 10.4 percent, the biggest increase since November 2010. The number reverses a 4.6 percent slide in October, and outpaced the 2.0 percent gain expected by economists.

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