Stocks are booming higher this morning, with the Dow rallying over 230 points higher.

This follows comments by European Central Bank President Mario Draghi, who promised to “do whatever it takes to preserve the euro.”

Further, most major companies reporting earnings in the last few weeks have beat on the bottom line, but missed revenue projections. This paints a strong picture for stocks, despite a sour long-term outlook.

Markets across the pond have also had a monster day, with Italy and Spain both up about 4.9 per cent.

The dollar has lost traction through the rally this morning, falling against the euro, yen, sterling, and Aussie.

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