After a series of relatively small gains, U.S. stocks shot up today with the Dow soaring 260 points. The announcement of the European Central Bank launching a bond-buying program sent U.S. stock indexes up 1.5%, to finish their fourth straight day in the green. Lower oil prices are proving to be extremely beneficial to airlines. Southwest (LUV) shares were up as high as 8% today after the air carrier reported better-than-expected fourth quarter results due to falling oil prices and a boost in passenger traffic.
Word on the Street
- Is a global recession on our horizon?
- Family Dollar (FDO) OKs $8.5 billion from Dollar Tree (DLTR).
- U.S. oil reserves at highest level in over 80 years.
- eBay (EBAY) expected to layoff 2,400.
- Up to 20,000 could be laid off by June due to falling oil prices.
- City National (CYN) to be acquired by the Royal Bank of Canada.