U.S. stocks climbed, lifting the Dow and S&P 500 to records, after upbeat economic reports in the U.S. and assurances from European Central Bank President Mario Draghi that the ECB would adopt further easing measures, if needed.
“After a rather adventurous period in the last few weeks filled with economic and corporate data, the markets are choosing to put a positive interpretation on the ECB and Draghi’s statements,” said Eric Wiegand, senior portfolio manager for the private client reserve of U.S. Bank in New York.
“As we look at the jobless claims that came out today, it’s a nice backdrop for a favorable report tomorrow,” Wiegand added of Friday’s monthly payrolls report.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.