Sampp Inches Higher As Ecb Signals Gradual Rate Hikes

22

– U.S. stocks ticked higher on Thursday, after the European Central Bank signaled that any interest rate hike was still far away, even as it moved to end its 2.55 trillion euro stimulus program by the end of the year.

The ECB’s statement came as a relief, especially after the Federal Reserve raised rates for the second time this year on Wednesday and hinted at two more hikes by the end of 2018.

Technology stocks were the biggest gainers, with Facebook and Alphabet leading the pack, while bank shares took a hit and weighed on the benchmark S&P 500.




Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.