21 Jan 2016
US stocks holding on to Draghi-led rally
FXStreet (Mumbai) - US stocks are holding on to a small rally witnessed at the open triggered by dovish comments from ECB’s Draghi.
At the time of writing, the Dow Jones Industrial Average (DJIA) was up 85 points or 0.5%. The S&P 500 index was up 6 points or 0.37%. The Nasdaq was up 0.30% as well.
The risk sentiment stabilized as ECB’s Draghi said the central bank would "review and possibly reconsider" its monetary policy stance in March. This means the doors are wide open for a rate cut/QE expansion in March.
Meanwhile, the data released in the US showed US jobless claims rose unexpectedly to six-month highs last week. However, the markets are not worried about the same as of now.
At the time of writing, the Dow Jones Industrial Average (DJIA) was up 85 points or 0.5%. The S&P 500 index was up 6 points or 0.37%. The Nasdaq was up 0.30% as well.
The risk sentiment stabilized as ECB’s Draghi said the central bank would "review and possibly reconsider" its monetary policy stance in March. This means the doors are wide open for a rate cut/QE expansion in March.
Meanwhile, the data released in the US showed US jobless claims rose unexpectedly to six-month highs last week. However, the markets are not worried about the same as of now.