Rates Kept Low, Greece Saved, Stocks Rally
An upbeat statement from the FOMC combined with assurances that interest rates will be kept near record lows sent stocks rallying higher on the session. Standard & Poors announced that it was not changing Greece’s credit rating. This led to EU officials offering aid to the struggling economy. In addition, the Fed vowed to end the mortgage-backed securities purchase plan this month. The DJIA advanced +43.83 to 10685.98, the Nasdaq climbed +15.80 to 2378.01 and the broad based S&P 500 added +8.95 to 1159.46.
^BNHNA^: Takeover attempts by Russell Glass pushed shares higher by 7.53% or 42 cents to $6.00.
^GE^: Positive words from JP Morgan Chase sent the company higher by 4.83% or 83 cents to $18.13/share.
^SQNM^: Plummeted 21.78% or $1.70 to $6.06/share after its loss was greater than analysts forecast.
^WYN^: A Goldman Sachs downgrade sent shares lower by 2.75% or 68 cents to $24.07.
Gold rocketed $16.90 to $1122.00, oil advanced $2.03 to $81.83 and the VIX index gave back 1.72% to 17.69.
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