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Nov 19 2015

Wall St rises in wake of Fed minutes, December hike expected

Market Recap 11/18/15:
 
U.S. stocks rose on Wednesday as evidence grew that the Federal Reserve would raise interest rates at its December meeting, which investors took as a sign of confidence in the economy. Minutes from the Fed’s October meeting, which were released Wednesday afternoon, pointed to December, with multiple Fed officials expressing confidence that the economy was strong enough to withstand such a move. While volatility has been elevated this year because of questions over interest rate policy, investors could view the removal of that uncertainty as a positive, especially as subsequent increases are seen as unlikely in the short-term. Trading could continue to be erratic until the next Fed meeting, especially amid fears of further terrorist attacks, following last week’s events in Paris.
 
Looking ahead:
U.S. stock index futures rose on Thursday, as the previous day’s Fed minutes continued to give investors certainty about how to allocate their assets. Major indexes around the world were higher, with European shares up by more than 1 percent. Investors are also looking ahead to the latest read on weekly jobless claims, which will be released before the market open, as well as the initial public offerings of tech companies Square (SQ) and Match Group (MTCH)Make sure you don’t miss our president, Oliver Pursche, who will be appearing on CNBC this Friday. Also, catch this week’s Money Matters with Gary Goldberg, where the guest will be Lisa Bissell, chief executive of Gemesis Inc, a retailer of lab-grown diamonds. The show will air Sunday at 11 on WOR710. Visit our website www.ggfs.com for more details.