16 Dec 2015
US stocks rally after Fed historic rate hike
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.
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.