Tesla Climbs on Model 3 News; ECB Could Extend QE After 2016

Tesla (TSLA) shares climbed in midday trading Thursday after CEO Elon Musk announced the company will begin taking preorders in March for its lower cost Model 3. The car has a price tag of $35,000. Stocks extended gains in a calmer day of trading as China's markets closed to commemorate World War II. The energy sector led markets as crude oil spiked above $47 a barrel. European Central Bank President Mario Draghi also fueled positive market sentiment after showing a willingness for further quantitative easing to jump-start the economy. Draghi noted the ECB could extend its asset-buying program past September 2016 if needed. Joy Global (JOY) tumbled after quarterly profit fell 37%.