Monday, June 17, 2013

Stocks Vault Higher As Investors Bet On More Fed Magic


From Forbes: U.S. stocks jumped this morning, a signal that investors believe the Federal Reserve will keep its easy money policy unchanged at a two-day policy meeting this week.

The Dow Jones industrial average gained 1.1%, 166.34 points, to 15,236.52. The S&P 500 added 1%, 16.1 points, to 1,642.81, and the Nasdaq composite went up 1.1%, 36.2 points, to 3,459.79.

 Policymakers are divided on when to stop the stimulus that has propelled equities to record highs and kept interest rates low. Fed Chairman Ben Bernanke said the central bank may begin to end its $85 billion-a-month bond-buying program “in the next few meetings.”

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