U.S. stocks moved lower Thursday after European Central Bank President Mario Draghi hinted that the bank is ready to back a big monetary stimulus, but would be delaying any action until next year.
US bank earnings rose 7.3 percent in the July-Sept. quarter from a year earlier, as banks reduced their expenses and continued to lend out more money, which help drive up revenue.
Investors flooded into the U.S. Treasury market in a way not seen since the depths of the financial crisis, causing the yield on the benchmark 10-year Treasury note to fall below 2 percent for the first time in more than a year.