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Move over, Fed: Europe's central banker could rev up markets Thursday

Central bank action back in focus for markets

The Fed can take the day off Thursday. All eyes will be on Europe's Central Bank (ECB) chief Mario Draghi.

The European Central Bank president speaks ahead of the Wall Street open at 8:30 a.m. EDT, after a much anticipated ECB meeting statement at 7:45 a.m. Speculation about what the ECB will do has been swirling around the globe, including talk that it could buy bank bonds and even equities ETFs.

Oil could also be a factor for markets Thursday. West Texas Intermediate crude futures rose 1.5 percent to $45.50 per barrel Wednesday and then rose above $46 in late trading when American Petroleum Industry data showed a sharp, unexpected plunge in inventories of both oil and gasoline. U.S. government inventory data is expected from the Department of Energy Thursday morning.

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