With help from ECB and PBOC, Dow and S&P 500 close at record highs

Two weeks after the Bank of Japan’s plan to inject more liquidity into the markets, world stock markets got another dose of central bank easing on Friday, as the People’s Bank of China lowered interest rates and the European Central Bank’s Mario Draghi pledged to boost inflation in Europe. Stock prices in Shanghai rose about 1.4% Friday, while share prices on European bourses increased on the order of 2%. In the United States, the Dow spurted 175 points (+1.0%) higher at the open but settled for a gain of about half that much by Friday’s close.
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