17 Dec 2014
Wall Street rallies as the Fed is confident about growth, but will be patient
The US stocks market rose on Wednesday as investors welcomed the statement from the Federal Reserve that the central bank will be patient about when to raise rates. The Dow performed its best day of 2014; while the S&P logged its biggest increase since October 2013.
The Dow Jones rose 1.69% to 17,356.87; the S&P 500 rallied 2.03% to 2,012.88; while the Nasdaq Composite climbed 2.12% to 4,644.31.
All sectors finished Wednesday up for the day. The energy sector was the leader as its shares rose 4.76% on the day. Materials advanced 2.79% while techs rose 1.88%. Small caps in the figure of the Russell 2000 jumped 3.11% to 1,174.84.
Top winners were Exxon Mobil $XOM (+3.02%), Royal Dutch Shell $RDS.B (+4.40%) and Apple $AAPL (+2.50%); Biggest losers were FedEx $FDX (-3.72%); Unite Parcel $UPS (-1.17%) and HSBC holdings $HSBC (-0.45%).
Treasurys declined with the 10-year bond performing 0.59% down. Gold fell 0.4% to $1,189.50 while the crude rallied earlier in the day to lost previous gains after FOMC and to close at $55.85.
The Dow Jones rose 1.69% to 17,356.87; the S&P 500 rallied 2.03% to 2,012.88; while the Nasdaq Composite climbed 2.12% to 4,644.31.
All sectors finished Wednesday up for the day. The energy sector was the leader as its shares rose 4.76% on the day. Materials advanced 2.79% while techs rose 1.88%. Small caps in the figure of the Russell 2000 jumped 3.11% to 1,174.84.
Top winners were Exxon Mobil $XOM (+3.02%), Royal Dutch Shell $RDS.B (+4.40%) and Apple $AAPL (+2.50%); Biggest losers were FedEx $FDX (-3.72%); Unite Parcel $UPS (-1.17%) and HSBC holdings $HSBC (-0.45%).
Treasurys declined with the 10-year bond performing 0.59% down. Gold fell 0.4% to $1,189.50 while the crude rallied earlier in the day to lost previous gains after FOMC and to close at $55.85.