Stocks rose today, in the process ensuring a fifth consecutive quarterly gain for the S&P 500. The U.S. Federal Reserve is partially behind the market’s success, as it continues to taper its monetary stimulus at the expected rate. “People thought the Fed was insinuating they were going to raise short-term interest rates sooner than anticipated,” Bruce Bittles, chief investment strategist at RW Baird & Co., said. “[Fed Chair Janet] Yellen’s comments probably lay that to rest.”
S&P 500 Climbs to Fifth Straight Quarterly Gain Thanks to Fed
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Advocates of comprehensive tax reform in the United States should expect to start over in the next Congress due to the dim prospects that anything major will happen before the current legislative year ends in December, a key U.S. senator said.
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