Most investors were anxious to hear from Mario Draghi and a united ECB Thursday regarding stimulus and whatever their version was of QE.
Investors were disappointed initially as Super Mario found another reason and way to kick the can down the road once again.
Disappointment translates to lower stock prices.
Once seeing the market’s poor reaction to their inaction another clarifying statement was issued stating:
“ECB SAID TO PREPARE BROAD-BASED QE PACKAGE FOR JANUARY MEETING”.
Bull’s took that to mean it would be “game on” again for the ECB next month.
Stocks then rallied. To clarify further, Goldman Sachs,