U.S. Stocks Surge on Wall Street as the ECB Cuts Lending Rates

U.S. stocks opened sharply higher, as the European Central Bank cut lending rates to zero, and expanded its quantitative easing program. The measures were more extensive than expected. In the U.S., the latest economic data showed the number of Americans filing for unemployment benefits fell more than expected last week, hitting its lowest level since October. On the earnings front, mobile payments company Square (SQ) report a loss in its first quarter as a publicly traded company, but revenue growth was strong. Discount retailer Dollar General (DG) reported better than expected earnings and revenue, and the company also raised its quarterly dividend. TheStreet's Rhonda Schaffler reports from Wall Street.