Economics
U.S. Stock Rally Fades on Jobs Anxiety as ECB Move Boosts Bonds
- Equities end little changed as Dow trims 200-point advance
- Euro extends losses after ECB expands quantitative easing
Attention Drawn Elsewhere as China Takes a Holiday
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An almost 200-point rally in the Dow Jones Industrial Average faded in afternoon trading as optimism over European stimulus, which provided a boost to government bonds, gave way to anxiety ahead of Friday’s U.S. jobs report.
U.S. equities ended the day little changed, with attention focused on Friday’s payrolls data, which is expected to provide the last major clue on the state of the economy before the Federal Reserve next meets. Stocks rallied earlier in the session, while the euro tumbled and sovereign debt rose, after Mario Draghi said the European Central Bank is expanding the scope of monetary stimulus amid signs of a slowdown in the region.