US STOCKS-Wall St rises on ECB move bets, jobs data support
* Minutes from latest FOMC meeting due at 1900 GMT
* J.C. Penney climbs after sales results
* December private payrolls higher than expected
* Indexes up: Dow 0.7 pct, S&P 0.8 pct, Nasdaq 0.9 pct (Updates prices)
By Rodrigo Campos
NEW YORK, Jan 7 (Reuters) - U.S. stocks bounced back on Wednesday after five sessions of losses, following strong private sector jobs data and as deflation concerns in the euro zone were seen pushing the bloc's central bank into action.
European shares ended up, though far from session highs, on bets the first negative inflation in the euro zone since 2009 would trigger a long-awaited move from the European Central Bank to basically begin to print money.
"The deflationary data suggested the ECB will be justified in doing more and that is probably what people are betting on right now," said Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management in Menomonee Falls, Wisconsin.
Further support for stocks came after data showed U.S. private employers added 241,000 jobs last month, more than the 226,000 expected, while the November number was revised to 227,000 from the previously reported 208,000. Continuación...