U.S. Stocks Soar At Open; S&P 500, Dow At Records

MarketWatch Pulse

A surprise rate cut from China's central bank coupled with dovish comments from European Central Bank President Mario Draghi sent U.S. stocks soaring in early trade. Draghi said the ECB will do what it "must to raise inflation and inflation expectations as fast as possible," at a banking conference in Frankfurt. Meanwhile, China's central bank cut its one-year loan and one-year deposit rate to stimulate its economy. The S&P 500 rallied 15 points, or 0.86% to 2,066 at the open, setting a new intraday high. The Dow Jones Industrial Average jumped 154 points, or 0.9%, to 17,872. The Nasdaq Composite began the day up 45 points, or 1%, at 4,747.

Copyright © 2014 MarketWatch, Inc.

Continue Reading Below