US STOCKS-Wall St lower as ECB stimulus seen not dovish enough

jueves 3 de diciembre de 2015 12:36 GYT
 

* Yellen gives Congress upbeat view on march towards liftoff

* Initial jobless claims up for last week

* November job report expected on Friday

* Indexes down: Dow 0.5 pct, S&P 0.18 pct, Nasdaq 0.02 pct (Adds quote, updates prices)

By Sweta Singh

Dec 3 (Reuters) - U.S. stocks were lower on Thursday as European Central Bank's minimal rate cut and extended stimulus failed to impress investors.

The ECB decided to extend its asset purchase program until March 2017 but it did not increase its size as expected. A cut in deposit rate was in line with expectations, with hopes of further easing being dashed.

The euro was on track for its biggest daily gain since mid-March following ECB's announcement.

"The (ECB) commentary clearly caught people by surprise. I think most currency traders were short the euro and long the dollar, expecting different commentary from chairman Draghi," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.   Continuación...