U.S. stocks closed little changed erasing a rally of nearly 200 points for the Dow Jones Industrial Average, as optimism over European Central Bank stimulus faded before the government’s monthly job report

The Standard & Poor’s 500 Index rose 0.1 percent to 1,951.09 at 4:03 p.m. in New York, after rising as much as 1.3 percent.

ECB President Mario Draghi earlier unveiled a revamp of quantitative easing to allow for more purchases of each euro member’s debt as the weaker global outlook prompted a wholesale reduction of officials’ economic forecasts through 2017. Draghi said the emerging-market rout threatened global expansion and that consumer prices may barely grow this year.

Source : Bloomberg