Stocks are rallying and the euro is getting slammed
Stocks are well in the green in early trading on Thursday morning.
Near 9:32 a.m. ET, the Dow was up 125 points, the S&P 500 was up 18 points, and the Nasdaq was up 37 points.
Stocks have closed sideways for most of this week.
There's quite a lot going on this morning.
The euro slid following European Central Bank president Mario Draghi's hint that there could be more quantitative easing in the eurozone.
Draghi was speaking at a press conference, after the bank announced its decision to leave interest rates unchanged.
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- McDonald's reported its first quarter in two years of positive US same-store sales.
- Under Armour had its first billion-dollar quarter, reporting $1.2 billion in revenues for Q3.
- Caterpillar missed earnings expectations and cut its full-year earnings guidance to $4.60 per share from $4.70.
- 3M sales fell 5%, as the company announced it planned to cut 1,500 jobs.
In economic data, initial jobless claims continue to stun, with the four-week moving average falling to another 45-year low of 263,250.
House prices rose 0.3% in August, less than the expectation for 0.5%, according to the Federal Housing Finance Agency (FHFA).
Existing home sales numbers are due at 10:00 a.m. ET.