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US stock market opens higher after ECB boost

January 22, 2015 - 7:08 AM

U.S. stocks are opening higher, bond prices are rising and the euro is down after Europe's central bank announced an aggressive plan to shore up that region's economy.

The European Central Bank on Thursday unveiled a much-anticipated program to buy government and private bonds starting in March. The program was bigger than investors expected.

The euro fell in response, down to $1.148 from $1.162 just before the news. The currency's lower value could make European goods cheaper, boost exports from the region and lift inflation from dangerously low levels.

The Standard & Poor's 500 index rose 10 points to 2,041 in early trading. The yield on the 10-year U.S. Treasury note dropped to 1.84 percent, from 1.94 percent just before the ECB announcement. When bond prices rise, yields fall.

News from © The Associated Press, 2015
The Associated Press

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