US STOCKS-Wall St gains as ECB prepares to flood markets
* ECB's Draghi announces bond-buying program
* Starbucks shares up after the bell following results
* Indexes up: Dow 1.5 pct, S&P 500 1.5 pct, Nasdaq 1.8 pct (Updates to late afternoon)
By Lucas Iberico Lozada
NEW YORK, Jan 22 (Reuters) - The S&P 500 and Nasdaq turned positive for the year as U.S. stocks rallied on Thursday on the back of a larger than anticipated stimulus from the European Central Bank.
The ECB will buy 60 billion euros worth of assets per month, more than markets had been hoping for, in a program that will last through September 2016.
The choppiness seen early during the Wall Street session was due to some lingering questions about the effect of the announced measures on U.S. markets, said David Lebovitz, Global Market Strategist for J.P. Morgan Asset Management.
But as investors digested the details of the program it became more clear that the ECB was accomplishing exactly what it intended to.
"This is really the bazooka people had been looking for in the past years," Lebovitz said. Continuación...