Stocks are flat again.
After falling as much as 1%, all of the major averages moved back towards unchanged, with just the S&P 500 currently in the red by less than 1 point.
The Dow is up 1 point, the S&P 500 is down less than 1 point, and the Nasdaq is up 7 points.
Ealier, the Dow was down 106 points, the S&P 500 was down 17 points and the Nasdaq was down 47 points.
US stocks were taking their lead from markets in Europe.
Following the latest ECB meeting, European stocks were lower, especially in the Euro periphery, are getting crushed with markets in Spain down 2% and markets in Italy down nearly 3%.
Stocks in UK were also down almost 1%, stocks in France were down 2%, and German stocks were down more than 1%.
European stocks sold off after the ECB announced its latest monetary policy decision.
The ECB kept interest rates unchanged, and in his press conference following the announcement, ECB president Mario Draghi disappointed the markets, giving little colour on the potential future of the central bank’s plans for buying securities.
The price of oil was also lower, falling below $US90 a barrel for the first time in more than a year as commodities continue to get pummelled. Silver, platinum, and copper prices were all lower by more than 1% in early trade on Thursday.
On the economic data front, the initial report on weekly jobless claims came in better than expected, with claims coming in at 287,000 against expectations for 297,000. On Friday we get the latest non-farm payroll report from the BLS.
In stock news, Warren Buffett, chairman of Berkshire Hathaway, appeared on CNBC, announced the acquisition of the Van Tuyl Group, the nation’s fifth-largest auto dealership operator, and defended the Burger King acquisition of Tim Horton’s, for which he is providing $US3 billion in financing.
GoPro shares were also down as much as 10% on Thursday after the company’s founders announced they would break the lock-up expiration to gift more than 5.8 million shares to a charitable foundation.
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