US STOCKS-Wall St rallies on China, ECB stimuli

viernes 21 de noviembre de 2014 11:45 GYT
 

* Major stock indexes set for fifth week of gains

* Mining shares jump on China bets

* Crude prices rise sharply, energy shares follow

* Dow, S&P 500, Nasdaq up 0.8 pct (Updates to morning trading)

By Rodrigo Campos

NEW YORK, Nov 21 (Reuters) - U.S. stocks rallied on Friday, setting up a fifth consecutive week of gains on Wall Street, after China's central bank cut its benchmark interest rate and its euro zone peer announced asset purchases in efforts to boost each region's economy.

The move higher was broad with nine of the top S&P 500 sectors higher and more than six NYSE stocks rising for each one falling.

The People's Bank of China said it was cutting one-year benchmark lending rates for the first time in more than two years.

The move came after European Central Bank head Mario Draghi said "excessively low" inflation had to be raised quickly by whatever means necessary, rekindling expectations the ECB will move to stimulate the euro zone economy.   Continuación...