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Economy

Economic Data (USA)

Tuesday, December 13, 2005

Stocks Perform Well As The Fed Hints That Interest Rate Hikes Will Soon Come To An End

Everyone on Wall Street knew that The Fed would raise their key interest rate--The Fed Funds Rate--by 0.25 percentage points to 4.25% today, but investors still paid close attention to the press release issued by The Fed after today's FOMC meeting, because investors are very keen on knowing how high The Fed will take interest rates in the future. Well, the word "accommodative" was missing from today's press release, so investors understood this to mean that The Fed will soon go easy on raising rates, which should in turn spur much economic growth throughout the country.

Banking and other finance related stocks did well today on the positive news from The Fed.

Today's Numbers:

DJIA: Closed Up @ 10,823.72 (+55.95)

NASDAQ: Closed Up @ 2,265.00 (+4.05)

S&P 500: Closed Up @ 1,267.43 (+7.00)


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