Wall Street took a little convincing Thursday to see the European Central Bank’s quantitative easing as a good thing, but once confidence returned to the markets it did so with force. The S&P 500 and Nasdaq jumped more than 1% and the Dow added 260 points. Earlier, President Mario Draghi said the ECB would begin purchasing 60 billion euros, or $69 billion, worth of asset-backed securities each month beginning in March. Financials rallied as investors picked up bargains in a sector which sold off on poor earnings last week. Airlines were also higher with Southwest and United benefiting from lower fuel costs.
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