Draghi Excites The Market: DJIA Market Close for Thursday, September 06, 2012

The Dow closed up a whopping +244.52 points (+1.87%) to close at 13,292.00.

The Dow had all 25 of its component stocks in the green all day today. At least I didn’t see anything in the red during the day.

Banks and Tech were leading the gainers today. The leaders were BAC (+5.03%), CSCO (+4.37%), JPM (+4.26%), GE (+3.20%), MSFT (+3.14%) and (INTC (+2.89%). On the low end of this stack of winners we had AXP (+0.38%), VZ, JNJ, BA, T and PG.

Today, a combination of stronger-than-expected data on the job market and the European Central Bank’s bond-buying program provided the stimulus for the wonderful market action.

Tomorrow we get the Jobs report and I hope another move higher.

Speaking after a meeting of top ECB officials in Frankfurt, the central bank’s president, Mario Draghi, reiterated his pledge to do “whatever it takes” to preserve the euro and said the ECB is prepared to make “outright monetary transactions,” or OMTs, in the secondary market for euro-area government bonds.

The ECB left interest rates unchanged at 0.75% and lowered its outlook for economic growth in 2012.

The dollar was down against the euro and the British pound, but rose versus the Japanese yen.

Oil for October added 17 cents to settle at $95.53 a barrel.

Gold futures for December delivery rose $11.60 to settle at $1,705.60 an ounce.

The price on the benchmark 10-year U.S. Treasury dropped, pushing the yield up to 1.66% from 1.59% late Wednesday.

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