Dow Jones Industrial Average futures traded just above the flatline after dropping more than 100 points earlier in the session. S&P 500 and Nasdaq 100 futures were well off their lows, trading down 0.3% and 0.1%, respectively.
The ECB said Thursday it will increase its Pandemic Emergency Purchase Programme by 600 billion euro, bringing the program’s total to more than 1 trillion euro. The ECB’s stimulus measures come as the Federal Reserve and other central banks around the world take action to curb the economic blow from the coronavirus pandemic.
These measures, along with hopes of the global economy reopening, have lifted equity prices around the world. The iShares MSCI ACWI ETF — which tracks stocks globally — has rallied more than 40% since hitting an intraday low on March 23. The S&P 500, meanwhile, is up over 42% in that time.