Well the Fed announcement this afternoon has sparked a nice rally in stocks. To a lesser extent, bonds and gold are rallying.
What has traders excited is the Fed reversing its prior rhetoric about continuing rate hikes because the economy is so strong. Now, they are saying that they could raise or lower rates, depending on inflation and employment. President Trump has been loudly complaining about the Fed strategy for months and should be much happier with this announcement.
Let’s see if this boost is enough to push stocks above the “half-way” point where they have been hovering.