After the Federal Reserve announced it would trim its monthly stimulus starting in January, U.S. stocks surged, sending both the S&P 500 and the Dow to record high closes. “Investors are looking past the taper and looking at the strength of the economy that is perceived with this news,” said Chris Gaffney, senior market strategist at EverBank.
Stocks Rocket to Records on Taper News
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The U.S. Federal Reserve has announced that, starting in January, it will cut its monthly stimulative bond purchasing from $85 billion to $75 billion.
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