US STOCKS-Wall St gains on sturdy data, ECB rate cut and credit plan

jueves 4 de septiembre de 2014 11:07 GYT

* ECB cuts rates, to buy asset-backed securities

* ADP payrolls short of estimates, initial claims up

* Tibco Software gains; to review alternatives

* Ciena stumbles after results, outlook

* Indexes up: Dow 0.38 pct, S&P 0.43 pct, Nasdaq 0.64 pct (Adds comments, data, updates to market open)

By Chuck Mikolajczak

NEW YORK, Sept 4 (Reuters) - U.S. stocks climbed on Thursday after the European Central Bank cut interest rates and announced a new credit plan, and as a flurry of data indicated the U.S. economy was steadily improving.

Both the Dow and S&P 500 touched record intraday highs after the ECB cut interest rates to new lows to fend off deflation and spur stagnating growth in the euro zone, a key trading partner of the United States.

The ECB also said it would begin to buy asset-backed securities to ease credit conditions in the region.   Continuación...