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US stocks rally after Fed historic rate hike

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - US stocks rose sharply on Wednesday, extending gains into a third session, after the Federal Reserve voted unanimously to raise rates, putting an end to an extraordinary 7-year period of near zero rates.

    Stocks briefly pulled back in the wake of the statement before moving higher. The Dow Jones Industrial Average rallied 223.98 points, or 1.28%, to 17,748. The S&P rose 29.65 points, or 1.45%, to 2,073. The Nasdaq Composite gained 75.77 points, or 1.52%, to 5,071.

    The Federal Reserve raised the target range for federal funds to 0.25%-0.50% as widely expected and said further increases will be gradual. Yellen reiterated yet again that the policy will remain accommodative and will depend on incoming economic data.
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