Stocks Soar After ECB Unveils Bond Buying Effort

European Central Bank By BERNARD CONDON and
MATTHEW CRAFT, AP Business Writers


NEW YORK (AP) - Stocks hit four-year highs after the European Central Bank laid out a concrete plan to support the region's struggling countries through buying bonds.

That set off a global market rally. The Dow Jones industrial average jumped 244 points to 13,292, its highest close since December 2007.

The Standard & Poor's 500 index soared 29 points to close at 1,432, the highest since January 2008.

The Nasdaq composite index jumped 66 points to 3,136. That was its highest level in 12 years.

Mario Draghi, the ECB's president, said the new program will have no set limit on the amount of government bonds it can buy.

Nearly four stocks rose for every one that fell on the New York Stock Exchange. Trading volume was 3.9 billion, above the recent average.



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SuperFlyTrain

i need stocks SEND ME YOUR BEST STOCK PICKS

September 10 2012 at 2:06 PM Report abuse rate up rate down Reply
SuperFlyTrain

i need stocks SEND ME YOUR BEST STOCK PICKS

September 10 2012 at 2:06 PM Report abuse rate up rate down Reply
SuperFlyTrain

i need stocks SEND ME YOUR BEST STOCK PICKS

September 10 2012 at 2:06 PM Report abuse rate up rate down Reply
jmearlmic1

Ok folks here are the real facts. What a coincidence that on the day Obama is to speak to all those flaming liberals at the DNC. The stock market soars to it's highest point on that day. WOW!!!! it was all scripted by the Obama administration and ECB European Central Bank and it's leader the flaming liberal Mario Draghi. I will wager that the Obama administration told Mr Draghi when to speak and how to say it. Ah come on man, how FREAKING CONVENIENT, why not the day after or day before or whenever. But Mr Draghi knew what was at stake for the Obama administration and for him by making the announcement that the ECB would be buying bonds to help the struggling European Market. Why that day, the European Market has been struggling for sometime as a result of uncontrolled spending (entitlements) Greece,Portugal,Ireland,Italy,Spain. So the ECB is going to give those countries $$$ via the sale of bonds that's a good thing for the US. But my question to all those countries and the ECB is what about the pay back. We hear all the good news of bail outs, but what about paying the money back NO WORD on that, NO FORMULA or TERMS repayment. Why is that, because they can't pay back what they already owe, that's why all those countries are defaulting, not paying. So now Europe is even or has been against the US economy and JOBS here. Of all days to make the bond buying announcement. The ECB knew way before and exactly what that announcement would do to the market and for Obama's struggling campaign.

September 08 2012 at 11:03 AM Report abuse +2 rate up rate down Reply
jmearlmic1

Ok folks here are the real facts. What a coincidence that on the day Obama is to speak to all those flaming liberals at the DNC. The stock market soars to it's highest point on that day. WOW!!!! it was all scripted by the Obama administration and ECB European Central Bank and it's leader the flaming liberal Mario Draghi. I will wager that the Obama administration told Mr Draghi when to speak and how to say it. Ah come on man, how FREAKING CONVENIENT, why not the day after or day before or whenever. But Mr Draghi knew what was at stake for the Obama administration and for him by making the announcement that the ECB would be buying bonds to help the struggling European Market. Why that day, the European Market has been struggling for sometime as a result of uncontrolled spending (entitlements) Greece,Portugal,Ireland,Italy,Spain. So the ECB is going to give those countries $$$ via the sale of bonds that's a good thing for the US. But my question to all those countries and the ECB is what about the pay back. We hear all the good news of bail outs, but what about paying the money back NO WORD on that, NO FORMULA or TERMS repayment. Why is that, because they can't pay back what they already owe, that's why all those countries are defaulting, not paying. So now Europe is even or has been against the US economy and JOBS here. Of all days to make the bond buying announcement. The ECB knew way before and exactly what that announcement would do to the market and for Obama's struggling campaign.

September 08 2012 at 10:36 AM Report abuse rate up rate down Reply
jmearlmic1

Ok folks here are the real facts. What a coincidence that on the day Obama is to speak to all those flaming liberals at the DNC. The stock market soars to it's highest point on that day. WOW!!!! it was all scripted by the Obama administration and ECB European Central Bank and it's leader the flaming liberal Mario Draghi. I will wager that the Obama administration told Mr Draghi when to speak and how to say it. Ah come on man, how FREAKING CONVENIENT, why not the day after or day before or whenever. But Mr Draghi knew what was at stake for the Obama administration and for him by making the announcement that the ECB would be buying bonds to help the struggling European Market. Why that day, the European Market has been struggling for sometime as a result of uncontrolled spending (entitlements) Greece,Portugal,Ireland,Italy,Spain. So the ECB is going to give those countries $$$ via the sale of bonds that's a good thing for the US. But my question to all those countries and the ECB is what about the pay back. We hear all the good news of bail outs, but what about paying the money back NO WORD on that, NO FORMULA or TERMS repayment. Why is that, because they can't pay back what they already owe, that's why all those countries are defaulting, not paying. So now Europe is even or has been against the US economy and JOBS here. Of all days to make the bond buying announcement. The ECB knew way before and exactly what that announcement would do to the market and for Obama's struggling campaign.

September 08 2012 at 10:36 AM Report abuse rate up rate down Reply
jmearlmic1

Ok folks here are the real facts. What a coincidence that on the day Obama is to speak to all those flaming liberals at the DNC. The stock market soars to it's highest point on that day. WOW!!!! it was all scripted by the Obama administration and ECB European Central Bank and it's leader the flaming liberal Mario Draghi. I will wager that the Obama administration told Mr Draghi when to speak and how to say it. Ah come on man, how FREAKING CONVENIENT, why not the day after or day before or whenever. But Mr Draghi knew what was at stake for the Obama administration and for him by making the announcement that the ECB would be buying bonds to help the struggling European Market. Why that day, the European Market has been struggling for sometime as a result of uncontrolled spending (entitlements) Greece,Portugal,Ireland,Italy,Spain. So the ECB is going to give those countries $$$ via the sale of bonds that's a good thing for the US. But my question to all those countries and the ECB is what about the pay back. We hear all the good news of bail outs, but what about paying the money back NO WORD on that, NO FORMULA or TERMS repayment. Why is that, because they can't pay back what they already owe, that's why all those countries are defaulting, not paying. So now Europe is even or has been against the US economy and JOBS here. Of all days to make the bond buying announcement. The ECB knew way before and exactly what that announcement would do to the market and for Obama's struggling campaign.

September 08 2012 at 9:47 AM Report abuse rate up rate down Reply
1 reply to jmearlmic1's comment
fredonesaid49

How did you say it, Ok folks here are the real facts. Yeah Right!!! we are all suppose to believe your version as fact, give me a break, go and vote for the next two nitwits, actually I'm wrong, Romney is not a nitwit, the last guy (bush) was, this guy is shrewd and evil, I hope this guy win's, so all you dimwits that have voted for him I can laugh my heart out with the ole I Told You So!, just like I did with the other nitwit for 8 years, his first 4 years I warned everybody we are in trouble, his next 4 years I told all my friends were doomed, and the rest is History.

And by the way, where were all you nitpickers, false accusers, spaced out over the top conservatives when that dummy was destroying the country, I never saw much complaints than, it wasn't even a month when all kinds of accusations starting coming or should I say lies cause that's what it really is when Obama took office, I starting getting so many outrages e-mail's, blogs etc. you name and all bullcrap, but I guess you have the facts.

What the last dimwits left us with for 8 years, Washington, Lincoln, Roosevelt, Reagon, Kennedy combined could not fix the mess they left in only 4 years time.

September 08 2012 at 10:11 AM Report abuse -2 rate up rate down Reply
1 reply to fredonesaid49's comment
democracks0

Another liberal Obamite showing liberal tolerance, compassion and respect for the other persons point of view. Liberal tolerance, compassion, and respect? All a lie

September 08 2012 at 10:14 PM Report abuse rate up rate down
vince

Chris 1011, you haven't a clue. Four more years of the current hope instilling, broken promises, zero results leader will take the USA DOWN...Obama has run up multi trillions of $$$$ debt, grown our government to magnamanious size, wants me to pay more taxes so the welfare dole can thrive and in general ruin the expansion plans of small businesses. Maybe you havent noticed; the USA is speeding 90 MPH down a dead end street. Only FREE ENTERPRISE can resolve the current debacle. I am an INDEPENDENT who votes for the candidate with the best chance of restoring prosperity.

September 08 2012 at 8:29 AM Report abuse +2 rate up rate down Reply
delawarejack

It would appear that Mr. Mario Draghi is playing that old Italian Game called " Hide the Cannoli " .. And boy oh boy is he ever playing it well .. Of course now .. he didn't do " it " with a friend of his wife's this time .. he just did it with solvent members of the Eurozone .. lol

September 08 2012 at 8:27 AM Report abuse rate up rate down Reply
jmearlmic1

Ok folks here are the real facts. What a coincidence that on the day Obama is to speak to all those flaming liberals at the DNC. The stock market soars to it's highest point on that day. WOW!!!! it was all scripted by the Obama administration and ECB European Central Bank and it's leader the flaming liberal Mario Draghi. I will wager that the Obama administration told Mr Draghi when to speak and how to say it. Ah come on man, how FREAKING CONVENIENT, why not the day after or day before or whenever. But Mr Draghi knew what was at stake for the Obama administration and for him by making the announcement that the ECB would be buying bonds to help the struggling European Market. Why that day, the European Market has been struggling for sometime as a result of uncontrolled spending (entitlements) Greece,Portugal,Ireland,Italy,Spain. So the ECB is going to give those countries $$$ via the sale of bonds that's a good thing for the US. But my question to all those countries and the ECB is what about the pay back. We hear all the good news of bail outs, but what about paying the money back NO WORD on that, NO FORMULA or TERMS repayment. Why is that, because they can't pay back what they already owe, that's why all those countries are defaulting, not paying. So now Europe is even or has been against the US economy and JOBS here. Of all days to make the bond buying announcement. The ECB knew way before and exactly what that announcement would do to the market and for Obama's struggling campaign.

September 08 2012 at 8:23 AM Report abuse +1 rate up rate down Reply
2 replies to jmearlmic1's comment
jooocey

Sickening is what this is. And sadder, you can't get anyone to react. The sheep herders consorting to make a last ditch illusion--and the fact that it could work for them because everyone is so blinded by delusion and separation in America. I predicted that this would happen; 20 years ago when we got our first of many "stock options" (a worthless piece of paper designed to gyp you out of your proper salary). Uppers in these faux companies and rich folks who got on the stock-buying wagon made gobs and gobs of cash off these fake businesses in the 90s that were selling for crazy amounts of money; often when there was no finished sellable product! They rode on the coattails of the .com market craze without contributing anything but hype to the market. Of course the workers with the pieces of stock option paper with all the restrictions on it didn't make ****. Twice we even lost our own money put into 401K programs tied to these sham companies--and nobody did anything about it! I swore then that in 20 years (NOW) it would all collapse like a house of cards and guess what? IT WILL. It is right now. It doesn't matter what the numbers are. You cannot pump billions of dollars around on hot air backed by nothing with out it ******* everything up and that is exactly what has happened. It may sound simple-minded in analysis but wtf does that matter if I'm right? I'm telling you all that you had better take this seriously. It's already too late for a good outcome. But it's not too late to avoid some REAL suffering in this country for an awful lot of people. www.letschuckasickie.com LIVE FREE

September 08 2012 at 8:52 AM Report abuse rate up rate down Reply
fredonesaid49

How did you say it, Ok folks here are the real facts. Yeah Right!!! we are all suppose to believe your version as fact, give me a break, go and vote for the next two nitwits, actually I'm wrong, Romney is not a nitwit, the last guy (bush) was, this guy is shrewd and evil, I hope this guy win's, so all you dimwits that have voted for him I can laugh my heart out with the ole I Told You So!, just like I did with the other nitwit for 8 years, his first 4 years I warned everybody we are in trouble, his next 4 years I told all my friends were doomed, and the rest is History.

And by the way, where were all you nitpickers, false accusers, spaced out over the top conservatives when that dummy was destroying the country, I never saw much complaints than, it wasn't even a month when all kinds of accusations starting coming or should I say lies cause that's what it really is when Obama took office, I starting getting so many outrages e-mail's, blogs etc. you name and all bullcrap, but I guess you have the facts.

After what the last dimwits left us with for 8 years, Washington, Lincoln, Roosevelt, Reagon, Kennedy combined could not fix the mess they left in only 4 years

September 08 2012 at 10:13 AM Report abuse +1 rate up rate down Reply