The Fed did not lift rates and the conference was neutral. Markets keep recovering from Middle East tensions
US100 gains 1.8% and US500 is up 1.25% after the Fed decision and the post-meeting conference. The Fed kept rates unchanged and while Chairman Powell insisted more rate hikes remain a possibility, his message was fairly neutral. As a result markets went back to recovering some of the losses from the two previous weeks. Oil is down for the third straight day today as the Middle East tensions have at least stopped escalating and some most feared scenarios have not materialized (or at least not yet).
One needs to remember that very often a more lasting direction is only set one day after the Fed meeting but at least the first reaction is positive.
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Declining oil prices are helping boost market sentiment.
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