Fed minutes have little impact on US stocks

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Mumbai) - The major equity indices in the US were little changed after the Fed minutes offered no hawkish surprises, but kept the doors open for a rate hike in December.

    The minutes were largely in line with the policy statement and did not offer a clear commitment that rates would be moved in December.Moreover, the policymakers feel the conditions "could well be met" to increase interest rates for the first time in almost a decade next month, however, the decision is still data dependent.

    Following the minutes release, the Dow Jones Industrial Average (DJIA) quickly jumped 60 points, before giving back 35 points, leaving it little changed post minutes release. The S&P, which was up 0.7% ahead of the minutes release, extended gains to trade 0.9% higher.

    Meanwhile, the yield on the US two-year Treasury was up 2.5 basis points at 0.87%; again largely unchanged from where it was ahead of minutes release.
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