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Stocks are rallying and the euro is getting slammed

Akin Oyedele   

Stocks are rallying and the euro is getting slammed
Stock Market2 min read

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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FinViz

In earnings:

  • 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.

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