Stocks rose after the European Central Bank raised its growth forecasts and maintained its loose monetary policy. Wall Street also shook off another steep decline in crude oil prices. Marathon Oil (MRO) was one of the few energy companies in the green after agreeing to unload its Canadian business to Shell and Canadian Natural Resources. Marathon said the $2.5 billion deal will simplify its portfolio and lower costs. Tailored Brands (TLRD) cratered following a wider-than-expected loss and declining sales over its fourth quarter. Comparable-store sales declined at both its K&G brand and Jos. A Bank locations. AIG (AIG) rose after CEO Peter Hancock announced his resignation amid activist investor pressure. Hancock assumed the role in September 2014. He will stay on until a successor is found.
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.