US equities rally after ECB minimal bid rate cut

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Source: Marketwatch
© Scanpix/Reuters

US stocks experienced a sharp growth on Thursday following Greece's abandonment of bailout referendum and surprising ECB interest rate cut. Dow Jones Industrial Average gained 1.8% or 208.43 points, S&P 500 Index rose 1.9% or 23.24 points, while Nasdaq Composite Index climbed 2.2% or 57.99 points. According to Paul Nolte, Dearborn Partners managing director, the cut of ECB repo rate to 1.25% contributed significantly to growth in US markets.

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