US stocks gain on ECB stimulus, trade war moderation

NEW YORK - Wall Street stocks finished higher on Thursday after the European Central Bank announced new stimulus measures and as investors greeted further signs of moderation in the US-China trade war.

The Dow Jones Industrial Average ended the day at 27,182.45, up 0.2 per cent, increasing for the seventh straight session. Markets were in positive territory virtually the entire day but pulled back from session highs in the last half hour of trading after flirting with records. In a highly-anticipated move, the ECB cut a key interest rate deeper into negative territory, and announced new net purchases of government and corporate debt and support for struggling banks as outgoing chief Mario Draghi urged eurozone governments to spend more.

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Asia: Stocks hit six-week high on trade war hopes ahead of ECB[TOKYO] Asian stocks hit a six-week high on Thursday on hopes for a thaw in US-China trade frictions and expectations that the European Central Bank would kick off another wave of monetary easing by global central banks. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »