Friday, July 3rd34.9°C
26932
26096

Stocks open higher after European Central Bank cuts interest rates, pledges more stimulus

U.S. stocks are opening higher after the European Central bank pledged more stimulus to help the region's ailing economy, boosting the outlook for global growth.

The Dow Jones industrial average rose 26 points, or 0.2 per cent, to 17,104 in early trading Thursday. The Standard & Poor's 500 index climbed two points, or 0.1 per cent, to 2,002.

ECB President Mario Draghi said in a press conference that the bank would start purchases of asset-backed securities and covered bonds in October. The bank also cut its benchmark interest rate.

In the U.S., a private survey showed businesses added jobs at a healthy pace in August.

PVH, the owner of Tommy Calvin Klein and Tommy Hilfiger brands, rose $11.25, or 10 per cent, to $128.38 after the company reported earnings that exceeded analysts' expectations.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14682.39+44.40
S&P CDNX670.58-1.00
DJIA17730.11-27.80
Nasdaq5009.21-3.91
S&P 5002076.78-0.64
CDN Dollar0.7955-0.0018
Gold1167.10+4.10
Oil56.20-1.41
Lumber288.50+0.40
Natural Gas2.77-0.05

 
Okanagan Companies
Pacific Safety0.17+0.00
Knighthawk0.010.00
QHR Technologies Inc1.52-0.03
Cantex0.035-0.015
Anavex Life Sciences0.455+0.004
Metalex Ventures0.075+0.010
Russel Metals22.78-0.09
Copper Mountain Mining1.17+0.03
Colorado Resources0.09+0.03
ReliaBrand Inc0.006+0.000
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.165+0.005
Decisive Dividend Corporation3.00+0.50

 





FEATURED Property
2291149 2436 Saddleback Way
3 bedrooms 4 baths
$589,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Active listening

Has this ever happened to you? You had an initial meeting with a prospect. You asked that prospect what seemed to be all the right questions. You had what felt to you like a good conversation, and bas...


The price of money

Money is not a commodity. By definition, a commodity is a generic product that is bought and sold on price alone. Money, Canadian bills for example, look the same, smell somewhat the same, and are ava...


TFSA strategies

Photo: Thinkstock.comThe federal government has increased the annual contribution limit of Tax-Free Savings Accounts (TFSA) to $10,000. Going forward, the annual limit will no longer be indexed to inf...

_








Member of BC Press Council


25831