Stocks jumped on Tuesday after the European Central Bank signaled it could cut interest rates this year, fueling optimism among traders that the Federal Reserve will follow suit.
European Central Bank President Mario Draghi pledged to use rate cuts and other tools to hit inflation targets if economic conditions don’t improve.
A sharp decline in the Empire State Manufacturing Survey also raised hopes that central bankers would take action to boost the US economy.
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Stocks jumped on Tuesday after European Central Bank President Mario Draghi pledged to use rate cuts and other tools to hit inflation targets if economic conditions don’t improve, raising hopes the Federal Reserve would follow suit.
The European Central Bank pledged to use tools such as interest-rate cuts and asset purchases to shore up the Eurozone economy if needed. ECB President Mario Draghi highlighted geopolitical tensions, protectionism, and vulnerable emerging markets as risks that have…
