WKYT | Lexington, Kentucky | News

Stocks soar after ECB vows to protect the euro

NEW YORK (AP) - U.S. stocks are soaring at the opening bell after the president of the European Central Bank vowed to do what it takes to preserve the continent's monetary union.

The Dow Jones industrial average was up 234 points to 12,913 and the broader S&P 500 index added 23 points at 1,361 early Thursday. The Nasdaq composite index is up 50 points at 2,904 despite more disappointing news from the technology sector.

ECB President Mario Draghi said that the bank "will do whatever it takes to preserve the euro," providing the assurance markets needed to rally. Draghi spoke at an investor conference taking place at the Olympics in the U.K.

Disappointing earnings in the U.S. and signs of some trouble in the economy did not curb the strength of the rally.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus

WKYT

2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 163851016 - wkyt.com/a?a=163851016