A tame Fed = higher equities
The FOMC decision to take out "patient" but maintain a cautious stance toward future policy, put a smile on the stock market's face.
A lower dollar poured fuel on the fire as multinationals can breathe of sigh of relief. The USD fell by -2.88% vs the EUR and -3.01% vs the CHF. The lowest decline was the the 1.24% decline vs the JPY
Below, is a snapshot of the changes from yesterday's closing levels (5 PM ET).
The major US stock indices was led by the Dow which advanced by 1.27%. The S&P index rose by 1.21%. The NASDAQ and the Russell index were up a respectable 0.92% and 0.80% respectively.
In other global equity markets today, the European markets ended mixed with the German DAX index down -0.48% and the euro stock index down -0.10%. The UK FTSE outperformed all European indices, rising by 1.57%. The Shanghai composite continued its recent surge by rising 2.13%.
