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Market Snapshot: Dow, S&P 500 in range for records after ECB holds rates steady

U.S. stock-index futures point to a continuation of a record-setting trend after the European Central Bank held its key rates steady but said it would taper its asset-purchase plan in April, while leaving the door open for an extension of its economic stimulus program “if necessary.”

The central bank said it would buy €60 billion in bonds each month until the end of December 2017, “or beyond, if necessary, and in any case until the Governing Council sees a sustained adjustment in the path of inflation consistent with its inflation aim.” The ECB’s targets inflation of near 2%.

Wall Street is likely to experience bumpy trade as investors try to digest what is perceived as signs the ECB sees improvement in the European economic outlook but isn’t willing to snatch away stimulus that has provided a shot in the arm to bonds and stocks.

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