US stocks rise after ECB decision
US stocks opened higher today, after the European Central Bank revealed its decision to cut interest rates for the first time since 2016, with the launch of a new quantitative easing program.
The ECB decided on a rate cut to -0.5% launched a bond-buying program worth 20 billion euros per month (about $22 billion) in its efforts to stimulate the European economy growth.
The Bank's Chairman, Mario Draghi, said that the new quantitative easing program and the rate cut are to counter the continued weak inflation.
US President Trump praised Draghi's decision, adding that as the ECB cut interest rates and Euro fell, the US Federal Reserve is not moving.
Trump demanded from the bank to cut interest rates to zero or negative levels, ahead of the bank's decision next week.
US data showed today that the CPI rose by 0.1% in August, while the jobless claims fell by 15,000 to 204,000 during last week.
As of 15:08 GMT, Dow Jones rose by 0.1% or 15 points to 27,152 points, Nasdaq rose by 0.2% or 21 points to 8,192, and S&P 500 rose by 0.2% or 5 points to 3,006.
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.0813
|
-0.0026
|
0.2436%
|
|
|
|
|
1.3028
|
-0.0020
|
0.1544%
|
|
|
|
Tadawul
|
7858.93
|
-13.62
|
0.17%
|
|
|
|
|
18.019
|
0.266
|
1.498%
|
|
|
|
|
51.570
|
-0.631
|
1.210%
|
|
|
|
|
56.93
|
-0.76
|
1.32%
|
|
|
|
|
1593.020
|
8.320
|
0.525%
|
|
