Wall Street stocks gain as ECB says it’s ready to act

&Tab;&Tab;<div class&equals;"wpcnt">&NewLine;&Tab;&Tab;&Tab;<div class&equals;"wpa">&NewLine;&Tab;&Tab;&Tab;&Tab;<span class&equals;"wpa-about">Advertisements<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<div class&equals;"u top&lowbar;amp">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<amp-ad width&equals;"300" height&equals;"265"&NewLine;&Tab;&Tab; type&equals;"pubmine"&NewLine;&Tab;&Tab; data-siteid&equals;"111265417"&NewLine;&Tab;&Tab; data-section&equals;"2">&NewLine;&Tab;&Tab;<&sol;amp-ad>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;<&sol;div><p>US stocks moved slightly higher as markets calmed after a recent bout of turmoil&period;<&sol;p>&NewLine;<p>Investors on Thursday were encouraged by comments from European Central Bank policymakers&comma; who said they were willing to provide more stimulus to the region’s economy&comma; if needed&period;<&sol;p>&NewLine;<p>Investors now turn to today&comma; when a key jobs report will be released that could help determine whether or not the Federal Reserve raises interest rates this month&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;There’s a lot of trepidation in the market over what the Fed will do&comma; and it’s only getting worse as we get closer to the meeting&comma;” said Kristina Hooper&comma; head of investment strategies at Allianz Global Investors&period;<&sol;p>&NewLine;<p>The Fed’s two-day meeting begins on September 16&period;<&sol;p>&NewLine;<p>The Dow Jones industrial average added 23&period;38 points&comma; or 0&period;1&percnt;&comma; to 16&comma;374&period;76&period; The Standard &&num;038&semi; Poor’s 500 index rose 2&period;27 points&comma; or 0&period;1&percnt;&comma; to 1&comma;951&period;13 and the Nasdaq composite fell 16&period;48 points&comma; or 0&period;4&percnt;&comma; to 4&comma;733&period;50&period;<&sol;p>&NewLine;<p>Stocks started Thursday solidly higher&comma; but momentum waned as the day dragged on&period; Major indexes dipped briefly into the red by mid-afternoon before ending mostly higher&period;<&sol;p>&NewLine;<p>Investors were initially encouraged by news from the European Central Bank&comma; where President Mario Draghi said it is ready to give the eurozone a bigger dose of stimulus should inflation across the 19-country bloc fail to pick up&period;<&sol;p>&NewLine;<p>Along with keeping interest rates low&comma; the ECB is pumping €60bn a month into the region’s economy through purchases of government and corporate bonds&period; The programme is slated to run at least through September 2016&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Draghi said in 2012 he would do whatever it takes to grow the eurozone economy and he’s holding to that promise&comma;” said Quincy Krosby&comma; a market strategist at Prudential Financial&period;<&sol;p>&NewLine;<p>European markets jumped on the news&period; Germany’s DAX closed up 2&period;7&percnt;&comma; France’s CAC-40 rose 2&period;2&percnt; and UK’s FTSE 100 rose 1&period;8&percnt;&period;<&sol;p>&NewLine;<p>At the same time the ECB is stimulating Europe’s economy&comma; the Federal Reserve could raise US interest rates for the first time since the financial crisis&period;<&sol;p>&NewLine;<p>While the chances of a September interest rate increase have diminished because of signs of weakening global growth and a sell-off in Chinese stocks&comma; many believe the growing US economy may be ready to withstand higher interest rates&period;<&sol;p>&NewLine;<p>Friday’s jobs report for August&comma; a key gauge of how the US economy is doing&comma; could play a big role in guiding that decision by the Fed&period;<&sol;p>&NewLine;<p>Economists are forecasting that employers created 220&comma;000 jobs last month and that the unemployment rate fell to 5&period;2&percnt;&period;<br &sol;>&NewLine;The price of oil followed the stock market higher&period; US crude rose 50 cents to close at 46&period;75 dollars a barrel in New York&period; <&sol;p>&NewLine;<p>Brent crude&comma; a benchmark for international oils used by many US refineries&comma; rose 18 cents to close at 50&period;68 dollars a barrel in London&period;<&sol;p>&NewLine;&Tab;&Tab;&Tab;<div style&equals;"padding-bottom&colon;15px&semi;" class&equals;"wordads-tag" data-slot-type&equals;"belowpost">&NewLine;&Tab;&Tab;&Tab;&Tab;<div id&equals;"atatags-dynamic-belowpost-68ece95adf038">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<script type&equals;"text&sol;javascript">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback &equals; function &lpar;&rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;if &lpar; false &equals;&equals;&equals; &lpar; window&period;isWatlV1 &quest;&quest; false &rpar; &rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&sol;&sol; Use Aditude scripts&period;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;tudeMappings &equals; window&period;tudeMappings &vert;&vert; &lbrack;&rsqb;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;tudeMappings&period;push&lpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;divId&colon; 'atatags-dynamic-belowpost-68ece95adf038'&comma;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;format&colon; 'belowpost'&comma;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub; &rpar;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub;&NewLine;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;if &lpar; document&period;readyState &equals;&equals;&equals; 'loading' &rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;document&period;addEventListener&lpar; 'DOMContentLoaded'&comma; window&period;getAdSnippetCallback &rpar;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub; else &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback&lpar;&rpar;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<&sol;script>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>


Discover more from London Glossy Post

Subscribe to get the latest posts sent to your email.

- Advertisement -
Exit mobile version