While you were sleeping... All three major US stock indexes ended - TopicsExpress



          

While you were sleeping... All three major US stock indexes ended up more than 1 per cent overnight after the minutes from the Federal Reserve’s latest policy meeting showed a more supportive central bank than investors had previously expected. Markets were already higher ahead of the 2pm New York release of the latest Fed minutes, buoyed by Alcoa’s better-than-expected results. Pleasing investors was news that some Fed policymakers were worried markets thought the central bank would move quicker on rates than they currently plan. The development may have pushed the expected timeline on rate rises back once more. A number of participants noted the overall upward shift since December in participants projections of the federal funds rate included in the March [Summary of Economic Projections], with some expressing concern that this component of the SEP could be misconstrued as indicating a move by the Committee to a less accommodative reaction function, the minutes said. This momentum also had a galvanising effect on bourses around Europe as European shares rebounded on Wednesday, after two days of losses.
Posted on: Wed, 09 Apr 2014 22:48:43 +0000

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