US FEDERAL RESERVE ANNOUNCEMENT SENDS STOCKS SOARING

Sep 19, 2013

By Scott Walker

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Global stock markets have been having a field day since yesterday’s announcement by the US Federal Reserve that the American economy still needs help.

The Fed surprised investors by announcing yesterday it wasn’t satisfied that the US economy was recovering sufficiently to start pulling back on its monetary stimulus program.

That news sent Toronto’s TSX composite index to close up 97 points to 12,931, the highest level it’s been since July of 2011. The Canadian dollar surged 0.70 of a cent to 97.83 cents U-S.

Japan’s Nikkei index shot up by 1.8%. Hong Kong’s Hang Seng gained 1.67%.

European markets were solidly ahead as well.

 

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