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U.S. stocks keep rising after ECB decision

Xinhua, December 10, 2016 Adjust font size:

U.S. stocks extended gains Friday on pace for strong weekly gains, as investors continued to digest a decision from the European Central Bank (ECB) to keep its interest rates unchanged.

By noon, the Dow Jones Industrial Average gained 56.48 points, or 0.29 percent, to 19,671.29. The S&P 500 rose 6.41 points, or 0.29 percent, to 2,252.60. The Nasdaq Composite Index was up 19.72 points, or 0.36 percent, to 5,437.08.

ECB President Mario Draghi said Thursday that the central bank could increase the monthly purchases if needed and that there is still no firm end date for the stimulus program.

On the U.S. economic front, consumer sentiment for December hit its highest level since January 2015.

The preliminary reading of the consumer sentiment for December rose to 98.0 from 93.8 in November, said the Thomson Reuters/University of Michigan index of consumer sentiment on Friday.

Meanwhile, the "Trump-rally" carried on since the Election Day as traders believed Trump's policies might boost economic growth.

U.S. stocks rose for a fourth straight session Thursday, with all three major indices refreshing their closing records. Enditem