What to Watch Thursday: European Central Bank Decision

On Thursday, December 8, investors await a key policy decision from the European Central Bank. At issue is the pace of the central bank's monthly pace of asset purchases, which stands at 80 billion euros. Investors will be watching to see if the ECB maintains that pace, amid reports in recent months that tapering may occur. Plus, there is speculation the ECB may extend the quantitative easing program, which currently ends in March 2017, by six months. Meanwhile, it's a light day on the earnings calendar, with Hovnanian Enterprises (HOV) - Get Report , Restoration Hardware (RH) - Get Report and Broadcom (AVGO) - Get Report reporting earnings. TheStreet's Scott Gamm reports from Wall Street.