Patient Fed Energizes Markets

Stocks were positive all throughout the session ahead of the FOMC meeting and oil prices found some consistency. The markets extended those gains further following the Fed’s announcement that while economic activity is expanding, it could remain patient in enacting interest rate hikes and planned to keep rates at market friendly low levels for a ‘considerable’ time.

Market Radar - % Change

Nymex crude gained ground for the second consecutive session rising 0.97% to settle at $56.47 per barrel up $0.54.  Gold prices also saw modest gains rising $0.2 to settle at $1,194.5 per ounce up 0.2%.

The Dow Jones Industrial average snapped a three day losing streak climbing 1.69% to close at 17,356.87 after gaining 288 points.  The S&P 500 also broke a three day down streak surging 2.04% to close at 2,012.89 up 40.15 points.

The NASDAQ Composite jumped 2.12% or 96.48 points to close at 4,644.31.  The NASDAQ 100 climbed 1.85% or 75.5 points to close at 4,165.10.

The Small cap Russell 2000 positively soared moving back into positive territory for 2014 after jumping 3.11% to close at 1,174.84 after gaining 35.46 points.  The Fox50 climbed 1.88% or 26.01 points to close at 1,407.25.