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ECB Policy Trigger Wall Street Increasingly Strengthened

Jakarta (Benchmark News) – Wall Street stocks rose for the fourth session in a row on Thursday (8/12/2016).

The third main index update their closing record, after the European Central Bank (ECB) decided to keep interest rates unchanged.

Index Dow Jones Industrial Average rose 65.19 0.33 points or percent to close at 19,614.81 points. S&P 500 index increased 4.84 0.22 points or percent to end at 2,246.19 points, and the Nasdaq composite index rose 23.59 points or 0.44 per cent to 5,417.36 points.

The Board of Governors of the ECB on Thursday decided that the interest rates on operations “refinancing” mainstream and marginal lending facility rates and deposit facilities would remain unchanged respectively at 0.00%, 0.25-0.40% and percent.

The European Central Bank also extended the quantitative easing program until December 2017, but the purchase will reduce to 60 billion euros (64 billion dollars) per month. Current asset purchase of 80 billion euros (85 billion u.s. dollars) per month, which will end in March 2017 before the decision.

ECB President Mario Draghi said on Thursday that the central bank may increase monthly purchases if necessary.

On the economic side, in the week ending December 3, the introduction to the initial unemployment claims are adjusted seasonally is 258,000 10,000, down from the previous week’s level was revised yet, the U.S. Labor Department reported.

The average movement of four weeks achieving 252,500, rising an average of 1,000 has not revised the previous week 251,500.

In corporate news, shares of Costco surged 2.43 percent to 157.59 u.s. dollar after U.S. warehousing Club chain reported quarterly results were stronger than anticipated…(Red)

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