Dow futures are more than 157 points above fair value, after the ECB unveiled a fresh round of stimulus
Dow Jones Industrial Average (DJIA) futures are signaling
a sharp move to the upside today, as stocks react to a massive stimulus announcement from the European Central Bank (ECB) -- one that ECB President Mario Draghi
has been hinting about for some time. Specifically, the ECB this morning lowered its key interest rate to zero, dropped its deposit rate by 10 basis points to negative 0.4%, and boosted its monthly bond purchases. Against this backdrop, Dow futures are up triple digits, while futures on the
S&P 500 Index (SPX) are trading 19 points above fair value.
Continue reading for more on today's market, including:

Futures on the Dow Jones Industrial Average (DJIA) are 157 points above fair value.
5 Things You Need to Know Today
- China's Shanghai Composite suffered a steep loss on rising food prices, while European stocks are soaring in the wake of the ECB's decision.
- The Chicago Board Options Exchange (CBOE) saw 606,850 call contracts traded on Wednesday, compared to 411,459 put contracts. The resultant single-session equity put/call ratio fell to 0.68, while the 21-day moving average edged down to 0.71.
- Shares of Canadian Solar Inc. (NASDAQ:CSIQ) are down 5.1% in electronic trading, after the solar power company offered up lower-than-expected current-quarter and full-year revenue outlooks. As expected, however, the company's fourth-quarter revenue exceeded previous guidance, and arrived above forecasts.
- In its latest effort to boost user interaction, Facebook Inc (NASDAQ:FB) announced it has purchased Masquerade Technologies Inc -- maker of face-swapping app MSQRD -- for an undisclosed amount. Shares of FB are 0.7% higher ahead of the bell.
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Similar to
several of its cloud-sector peers,
Box Inc (NYSE:BOX) is set to soar after topping earnings estimates. Specifically, the firm's adjusted fourth-quarter loss of 26 cents on sales of $85 million beat expectations. BOX shares are up 15.6% in pre-market trading.

Earnings and Economic Data
The Treasury budget will be released today, along with earnings from El Pollo Loco (LOCO), Dollar General (DG), Plug Power (PLUG), Sunrun (RUN), VeriFone (PAY), and Zumiez (ZUMZ). To see what else is on this week's agenda, click here.