U.S. stocks surged on Wednesday after the Federal Reserve said it would be patient in lifting borrowing costs further this year, reassuring investors worried about a slowing economy.
Along with better-than-feared quarterly results from Apple Inc , the Fed’s comments helped Wall Street reverse two down days triggered by profit warnings from U.S. bellwethers that signaled a bigger impact from a slowdown in China.
The Fed held interest rates steady, as widely expected.
via Reuters
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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