U.S. stocks opened sharply higher, as the European Central Bank cut lending rates to zero, and expanded its quantitative easing program. The measures were more extensive than expected. In the U.S., the latest economic data showed the number of Americans filing for unemployment benefits fell more than expected last week, hitting its lowest level since October. On the earnings front, mobile payments company Square (SQ) report a loss in its first quarter as a publicly traded company, but revenue growth was strong. Discount retailer Dollar General (DG) reported better than expected earnings and revenue, and the company also raised its quarterly dividend. TheStreet's Rhonda Schaffler reports from Wall Street.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.