| 11:00 ET Dow +99, Nasdaq +26, S&P +10.57: [BRIEFING.COM] The market's broad-based advance continues as the bulls have put another feather in their cap following the ECB's surprise decision to cut rates by 25 basis points... Remember, the ECB has been one of the key missing links in the global recovery equation, so any thoughts that the bank has finally stepped up to the plate should provide a bit more near-term credibility for the reflation trade in equity indices around the globe... Aside from that positive implication, the surprisingly good sales results from a number of retailers have helped temper concerns surrounding an imminent slowdown in consumer spending... Not surprisingly, that understanding, coupled with the move by the ECB, has sparked some added optimism with respect to an economic rebound in the latter half of the year and has generated some buying interest in other economically-sensitive groups today, such as the basic materials, homebuilding and financial stocks... NYSE Adv/Dec 1771/912... Nasdaq Adv/Dec 2043/1142. |
