Stocks climbed on Thursday after Mario Draghi, the head of the European Central Bank, strongly indicated that the ECB would intervene to protect the eurozone, which has come under renewed assault as borrowing costs soar for Spain and Italy. Draghi said the ECB was "ready to do whatever it takes to preserve the euro," a comment that suggested the central bank could begin purchasing bonds directly from debt-embattled countries, which would lower their borrowing costs.
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