Stock Market Today: Markets Take a Breath After Thursday's Big Climb

NEW YORK (TheStreet) -- U.S. stock markets finished Thursday's trading session on a quiet note. After a big climb, the markets needed to take a breather.

The major indices touched fresh intraday highs Thursday after the European Central Bank fulfilled market hopes with its version of a quantitative easing program and economic data continued to bolster confidence that the low interest rate environment in the U.S. is here to stay.

Watch the video below for a closer look at how U.S. markets ended the trading day Thursday:


WATCH: More market update videos on TheStreet TV

Read More: Cramer: Equities Are the Saner Market

"It's a market that's showing strong signs of fatigue and need to take a rest. Some sort of technical readjustment needs to take place," said Peter Cardillo, chief market economist at Rockwell Global Capital. There were also investors selling into Friday's "granddaddy report of the month on employment," commented Cardillo.

The Dow Jones Industrial Average  fell 0.05% to 17,069.58, trading as high as 17,161.55. The S&P 500 was down 0.15% to 1,997.65, hitting 2,011.17 during the day. The Nasdaq was down 0.22% to 4,562.29. London's FTSE 100 added 0.06% to 6,877.97, while the CAC 40 in Paris added 1.65% to 4,494.94. In Frankfurt, the DAX climbed 1.02% to 9,724.26.

ECB President Mario Draghi announced on Thursday that the bank would launch an asset-backed securities purchase program as well as begin buying covered bonds in October to help boost liquidity in the financial markets and stimulate lending. His statement came after the ECB cuts its benchmark interest rate to 0.05% from 0.15% and deposit rate to -0.2% from -0.1%. Draghi had fueled hopes last month of more action to combat deflationary risks in the slowing eurozone economy during a speech in Jackson Hole, Wyo.

If you liked this article you might like

Forecast for S&P 500, Dow Industrials Remains Bullish, These Charts Show

Dow 20,000! It Should Mean Nothing to Investors, but Then Again...

Tradebird Investors Are Bullish on U.S. Stocks but Bearish on the Euro

Why Home Depot and Boeing Stock Fell Tuesday