The S&P 500 and Dow Jones climbed to new record highs after European Central Bank president Mario Draghi signalled a potential €1 trillion addition to existing monetary stimulus.

Better-than-expected jobless claims data added to the positive vibe on the Street whilst the optimism surrounding Draghi's comments fuelled similarly healthy gains in Europe.

In commodity trading, oil took another dive after the Organization of the Petroleum Exporting Countries cut demand forecasts for its oil.

Gold suffered its seventh consecutive losing session, pressured by the ongoing appreciation in the US dollar.

Elsewhere, aluminium advanced for the first time in three sessions after the latest US jobless claims data brightened the outlook for the US economy and demand prospects for the metal.

The euro fell to a fresh 26-month low after Draghi indicated he would not hesitate to use unconventional measures, including full-blown quantitative easing, in order to rescue the eurozone economy.

The post Morning Market update: Stimulus hopes ignite markets appeared first on Market Pulse.