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Stocks Make Big Comeback on Day of Big ECB Action: Here's What You Need To Know

From businessinsider.com

Oracle dragged down the Nasdaq and LTRO was trending on Twitter. First, the scoreboard: Dow: 12,107.7, +4.2, +0.0% S&P 500: 1,243.7, +2.4, +0.2% NASDAQ: 2,577.9, -25.7, -1.0% And now, the top stories: So, the European Central Bank (ECB) published the results of its Long Term Refinancing Operations (LTRO), a massive funding plan aimed at boosting liquidity for banks through cheap 3-year loans. And it turns out banks borrowed like crazy. 523 banks requested €489 billion ($640 billion). The market reaction, however, was unfavorable. European stocks sank, the euro dived, bond yields jumped, and U.S. futures fell. ... (full story)

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