You are here

US: Stocks rise on talk of more European stimulus


[NEW YORK] US stocks opened higher Thursday, following European equity markets upward after the European Central Bank hinted it may enact additional monetary stimulus in December.

Five minutes into trade, the Dow Jones Industrial Average was at 17,296.55, up 127.94 points (0.75 per cent).

The broad-based S&P 500 rose 13.20 (0.65 per cent) to 2,032.14, while the tech-rich Nasdaq Composite Index climbed 31.67 (0.65 per cent) to 4,871.78.

European equities rocketed higher after ECB President Mario Draghi said he expected eurozone inflation to stay "very low" for the near term and that the central bank would analyze in December whether current stimulus efforts are sufficient.

Investors digested a deluge of earnings ranging from a surprisingly good McDonald's report to disappointing results from American Express.

McDonald's jumped 7.4 per cent, while American Express slumped 5.8 per cent.