Bribery Scandal Hits Novartis, Adobe Wins On the Cloud: Market Recap
U.S. stocks rose Wednesday after the Federal Reserve made the surprising announcement that it will not begin curbing stimulus. The central bank’s two-day policy meeting wrapped up Wednesday afternoon, and the Fed decided it will not start cutting back on its $85 billion-per-month bond purchases for now. Most economists had expected the Federal Reserve to start tapering after its September meeting. The surprise sent the S&P 500 to a record high.
Gold: +4.28% to $1,365.50 per ounce; Oil: +2.68% to $108.24 per barrel; U.S. 10-Year: -5.08 to 2.708%.