Wall Street Sees Multi-Year Highs after ECB Agrees to Buying Bonds (AMZN)
The ECB's announcement on Thursday to buy an unlimited amount of euro zone bonds drove the S&P 500 up to reach a four-year high. European markets soared about 2% as well after the news was released. Also helping the US markets extend gains were tech stocks and Amazon (AMZN), who announced two new tablets. The sentiment continued with positive data from the jobs market and services sector, ahead of tomorrow's payroll report. Realty Income (O) agreed to a $2.95 billion acquisition of American Realty Capital and Navistar's (NAV) stock surged due to restructuring plans despite a drop in earnings.The dollar fell against the euro, which hit a two-month high following Draghi's announcement.
Word on the Street
- Mario Draghi and the ECB take a big step and agree to buying government bonds.
- Reports show that the US services sector index climbed to 53.7 in August.
- Navistar International says Q3 earnings dropped and outline a cost-cutting plan.
- Claims for unemployment benefits fell to the lowest in a month as companies add more workers.
- Tech stocks Micron (MU) and SanDisk (SNDK) surge as supply and demand come into a balance.
- Mortgage rates remain just above record lows in the US after little change this week.
- Amazon (AMZN) unveils two new tablets, the Kindle Paperwhite and a larger version of the Fire.
- Guidewire (GWRE) Surges as Top and Bottom Lines Exceed Estimates.
- Five big tech trends that are changing marketing according to Ad Age.
- Tips on how to add "campaign-trail flourish" to your speech for a sales meeting or presentation.
Published on Sep 6, 2012By InvestorGuide Staff