[ash_thebachchan] Markets Bounce on Federal Reserve Announcement

 

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Market Summary

After the worst selloff since 2008, markets were up today after the Federal Reserve Open Market Committee promised to keep interest rates "exceptionally low" for at least two more years. As a result, the Dow was up almost 4 percent today, after a big dip and then last minute rally. Though markets did not recapture all of the value that they lost yesterday, they did improve dramatically. Meanwhile, Apple's (AAPL) growth continues, as it passed Exxon Mobile (XOM) in highest valuation of any company in the world for a few moments during today's trading.

Word on the Street

• After the Federal Reserve announced that it would keep markets low, major indexes were up.
• The Federal Reserve specifically promised to keep rates at their current low for the next two years.
• Crude Oil fell to the lowest price it has been since September.
• Apple (AAPL) momentarily surpassed Exxon (XOM) as the world's highest valued company today.

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Markets Bounce on Federal Reserve Announcement

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