LONDON: U.S. stocks closed up more than 1 percent at session highs on Wednesday after the October Fed statement gave investors more confidence in the possibility of a December rate hike. ( Tweet This )
The Federal Reserve kept interest rates unchanged in its statement released at the conclusion of its two-day meeting.
“I think the market’s telling us they’ve fallen in love with free money,” said Myles Clouston, senior director at Nasdaq Advisory Services. He also noted a camp that’s “probably happy there’s at least a possibility of a hike before the end of the year.”
“I think once again we’re going to see volatility into the rest of (Wednesday), into tomorrow as people digest the news,” he said.
