The S&P 500 is up 3 points to a record 1931 shortly after the open.

SP500

S&P 500

Europe is obviously the big story with the main indexes there up 0.5% (Germany) to 1.7% (Italy). For US stocks, the good news is that the ECB is throwing caution to the wind to defeat disinflation and that’s good news for any multinational company, at least until the unintended consequences appear years from now.