US STOCKS-Central banks set Wall St up for 5th straight weekly gain

viernes 21 de noviembre de 2014 14:40 GYT
 

* Wall St rallies in broad advance, but off day's highs

* Energy sector up but loses steam as Brent cuts gains

* GameStop slumps after results; Ross, Autodesk advance

* Indexes up: Dow 0.3 pct, S&P 500 0.3 pct, Nasdaq 0.1 pct (Updates to afternoon trading)

By Ryan Vlastelica

NEW YORK, Nov 21 (Reuters) - U.S. stocks rose on Friday, putting major indexes on track for a fifth straight weekly advance, 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 day's gains were broad even as indexes came off session highs. About two-thirds of NYSE stocks traded higher, down from four-fifths earlier in the session.

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. The ECB said it started buying asset-backed securities to encourage banks to lend and revive the economy.   Continuación...