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Dow climbs to fresh record high as investors cheer ECB move, NFP eyed
The major US indices opened Thursday’s session at fresh record highs, tracking the ECB-inspired gains in Europe. The ECB unleashed a raft of stimulus measures in a bid to boost economic growth and stave off deflation threats in the euro area. The central bank trimmed its main refinancing rate by 10 basis points to 0.15%, cut the deposit rates to negative 0.1%, announced “Targeted” Long-Term Refinancing Operations (TLTRO) and ended sterilization of bond purchases. The ECB chief, Mario Draghi, delivered a very dovish press conference and when a journalist asked if the ECB had exhausted the policy tools at its ... (full story)