U.S. Federal Reserve, Public Domain
Market Posts Best Four-Session Rally in More Than a Year (Bloomberg)
Federal Reserve Chairman Janet Yellen’s comments led investors to believe the strengthened economy will merit further stimulus cuts from the Fed, boosting stocks for the fourth consecutive session. The S&P 500 has had its best four-day rally since January 2013; gold is on a five-day winning streak. “Yellen is just sticking to the script and she’s going to give it to next FOMC meeting to taper,” John Canally, an economic strategist at LPL Financial Corp. said. “We’re fairly certain that tapering is happening and she has made it clear that it’ll take a high hurdle for it to stop.”
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