16Sep2015 Market Close: Markets Closed Higher On Rumors The Federal Reserve Will Stand Pat And NOT Raise Rates, WTI Oil Closed Almost 6% Higher
Written by Gary
U.S. Markets closed higher with the DOW topping out at +140 and WTI oil in the low $47's. Oil prices surged to a two-week high after data showed an unexpectedly large decline in U.S. crude stockpiles, raising expectations that a lingering supply glut is about to ease.
As far as the Fed announcement goes, 'buy the 'Fed Rumor' and sell the fact. Tomorrow we will see what the Fed has in store for us.
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