Daily ETF Roundup: Stocks Higher After Fed Decision

Equities rallied for a second-straight day as commentary from the Federal Reserve helped offset the latest developments in euro zone’s Cyprus drama. In his press conference, Fed Chairman Ben Bernanke indicated that the central bank will continue buying $85 billion in bonds each month to support the economic recovery and that the interest rate will remain unchanged near zero. The chairman also stated that he does not believe the recent stock market rally to be inconsistent with historical patterns, and that the Fed will be keeping a close eye on the developments in Cyprus [see Free Member Report: How To Pick The Right ETF Every Time]. Global Market Overview: Stocks Higher After Fed Decision Following the Fed’s press conference, all three major U.S. equity indexes rallied to close in positive territory. The Dow Jones Industrial Average ETF rose 0.35%, as its underlying index hit an intraday high at 14,546.82. The S&P 500 ETF rallied 0.70%, while the tech-heavy [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: Stocks Rally On Positive Economic Data Daily ETF Roundup: Stocks Close Lower on Cyprus Fears Daily ETF Roundup: Dow Snaps Its 10-Day Win Streak Daily ETF Roundup: Dow Sets Yet Another Record Daily ETF Roundup: Dow Posts First 9-Day Win Streak Since 1996