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Markets Optimistic On ECB Action

Wednesday, 1 Aug 2012 | 5:45 AM ET

"We are really looking at what happens tomorrow with the ECB. Draghi has strongly hinted that he wouldn't accept anything less than strong action from the ECB so the market is really trading up in anticipation of that, if there is any hint that the ECB won't have teeth that could really hurt the market today," Emily Sanders, chairman and CEO of Sanders Financial Management, told CNBC.