U.S. stocks rise, shake off Fed-fueled wobble amid strong data, ECB update

U.S. stocks opened modestly higher on Thursday, after the European Central Bank left interest rates unchanged and provided clarity on the timeline for its bond-buying program. The Dow Jones Industrial Average DJIA, +0.28% rose 0.3% to 25,282. The S&P 500 SPX, +0.27% added 0.3% to 2,783. The Nasdaq Composite Index COMP, +0.52% was up 0.4% to 7,726. The ECB laid out plans to taper its program of monthly bond purchases later this year, aiming to bring them to a halt by the end of 2018. Separately, a read on retail sales was up 0.8% in May, stronger than expected, while jobless claims fell by 4,000 in the latest week. In company news, 21st Century Fox Inc. FOXA, +1.63% climbed 1.2% a day after Comcast Corp. CMCSA, +4.84% offered to buy a big chunk of Fox’s entertainment and international assets for $65 billion. On Wednesday, stocks ended at their lows of the session after the Federal Reserve signaled a slightly more aggressive plan to tighten monetary policy this year than had previously been projected.

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