Thursday, 17 December 2015

Dow zooms 200 pts, S&P positive for year after Fed hikes

US stocks closed higher after the Federal Reserve raised rates for the first time in nearly a decade. Only the energy sector lagged as oil prices resumed their decline. 

The major averages extended gains after Fed Chair Janet Yellen said in a press conference that policy would remain accommodative and that the significance of the first hike should not be overblown.

 "I think the market heard what it wanted to hear and that should bode well here for '15 and the first month of '16," said Tom Siomades, senior managing director and head of Hartford Funds Investment Consulting Group.

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