US stocks gain as European Central Bank ready to act

US stocks gain as European Central Bank ready to act

US stocks have closed mostly higher as markets regain their footing after a turbulent few weeks.

The Dow Jones industrial average edged up 23 points, or 0.1%, to 16,374.

The Standard & Poor’s 500 index rose two points, also 0.1%, to 1,951. The Nasdaq composite slipped 16 points, or 0.4%, to 4,733.

European markets rose broadly as the head of the European Central Bank said it is ready to give the region a bigger dose of stimulus should inflation fail to pick up.

Joy Global plunged 15%, the most in the S&P 500, after the maker of mining equipment posted earnings that fell far short of analysts’ estimates.

Bond prices rose but the yield on the 10-year Treasury note fell to 2.17%.

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