Equities Higher as ECB's Draghi Hints

June 15, 2012 7:58 AM EDT
SPDR S&P 500 ETF (NYSE: SPY) is up about 8 points to 1,337 Friday morning amid continued enthusiasm about global central bank easing.

Investors are keying in on comments from ECB President, Mario Draghi. Draghi stated during a conference today that the Eurosystem will continue to supply liquidity to solvent banks where needed. He also said that officials should work to improve the management of the euro area economy.

Analysts think Draghi is open to easing, particularly if the election in Greece causes the crisis in Spain and the rest of the eurozone to flare up. His comments came after reports of potential coordinated central bank intervention broke yesterday, which markets saw as a positive for equities.

The Dow Jones Average is up 77 points to 12,729 and the Nasdaq is up 15 points at last check.

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