The S&P 500 and NASDAQ had upward skews as indexes continue to work off short term oversold conditions. The S&P 500 gained 0.73% and NASDAQ 0.44%. No surprises by the Federal Reserve but no real new information either in today’s statement.
In a move widely expected on Wall Street, the U.S. central bank’s Open Market Committee kept its key funds rate near zero. There had been some anticipation the FOMC would provide at least few code words indicating that it was ready to move, but there was scant evidence in the post-meeting statement. Policymakers said the economy is expanding moderately and made no mention of recent volatility around Greece or China. The Fed had not raised interest rates in more than nine years and had been keeping its key funds rate near zero since late 2008.Continue reading