US STOCKS-Wall St edges up on ECB hopes, but IBM weighs

miércoles 21 de enero de 2015 11:09 GYT
 

* IBM shares fall after results, Netflix rallies

* Investors look ahead to ECB meeting

* Crude oil rises but still sharply down for week

* Indexes: Dow down 0.1 pct, S&P up 0.2 pct, Nasdaq up 0.1 pct (Updates to open of U.S. trading)

By Ryan Vlastelica

NEW YORK, Jan 21 (Reuters) - U.S. stocks were flat on Wednesday as reports that new stimulative measures would be announced by the European Central Bank, though a tepid outlook from IBM limited the day's gains.

Market participants have been looking for more aggressive measures from central banks to combat the risk of deflation that has grown alongside a drop in oil prices. The ECB's Executive Board has proposed a quantitative easing program that would see the ECB buy roughly 50 billion euros ($58 billion) in bonds per month for a minimum of a year, the Wall Street Journal reported on Wednesday.

"The timing and duration of bond purchases is just as important as the actual amount, if not more important," said Clem Miller, portfolio manager of Wilmington International Funds in Baltimore.

"There are also a lot of questions about asset distribution, since the market is expecting a lot of government bond purchases, and it would be disappointed if it was more slanted to corporate bonds."   Continuación...