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Global Stocks: Wall Street rallies after FED meeting
U.S. markets were rallying on Wednesday on an upbeat economic outlook by the FED and Janet Yellen's statement that the bank is going to take a patient approach on hiking benchmark interest rates. The DOW JONES added +1.69% closing at 17,356.87 points, the S&P 500 posted its biggest gains since October 2013, rallying +2.04%, climbing again over 2,000 points with a final quote of 2,012.89. U.S. consumer prices declined by -0.3% from the previous month. Today market participants await the Initial Jobless Claims, the Philadelphia Fed Manufacturing Index and the preliminary Services PMI.
Hong Kong's Hang Seng added +0.95% to 22,801.15 and recouped some of its losses after correcting for a week. China's Shanghai Composite closed at 3,057.88 points after volatile trading, a loss of -0.10% after reaching new high yesterday.
Japan's Nikkei added the most in 4 weeks trading +2.32% closing at 17,210.05 after the Japanese yen fell against the greenback on the FED's policy to take a "patient" approach to hiking interest rates. Solid gains on the U.S. markets further added to the positive sentiment.
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