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European Central Bank’s Mario Draghi Boosts Stocks With Another Round of Dovish Comments

June 15, 2023
in Trade Tube
Reading Time: 1 min read
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Finally some green on Wall Street. U.S. stocks opened slightly higher on Thursday, following dovish remarks from European Central Bank President Mario Draghi. The central bank left its benchmark interest rates unchanged, including a negative deposit rate. Draghi said the central bank’s monetary policy will be reviewed in March, a hint that more quantitative easing could be in the cards. ‘Ultimately, people are taking it as a dovish Mario Draghi,’ said Joshua Mahony, a market analyst with IG, based in London. ‘But quite honestly, when has Mario Draghi not been dovish? He’s always been in a position where he wants to talk up the equity markets and most notably talk down the euro.’ Meanwhile, back in the U.S., jobless claims reached a six-month high, rising by 10,000 to 293,000 for the week ending January 16. Economists had expected 278,000 claims. And, Verizon (VZ) reported fourth quarter earnings of $0.89 a share, a penny ahead of forecasts. Revenue was slightly ahead of estimates. TheStreet’s Scott Gamm reports from Wall Street.

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