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Wednesday, 19 June 2013

Stocks End Higher as Fed Meets, Russell 2000 Closes at All-Time High

By: | Writer

Stocks rallied to finish near session highs Tuesday, with the Dow soaring nearly 150 points, as members of the Federal Reserve kicked off their two-day meeting to discuss the future of the central bank's bond-buying program.

"All eyes are on the Fed," said John Fox, co-manager of the FAM Value Fund. "Economic news has been fine and continues the trend that we've been on, but tomorrow's going to have much bigger impact on what happens this week…but with inflation low and the job picture not satisfactory yet, I don't see a reason for the Fed to change anything."

The Dow Jones Industrial Average rallied 138.38 points to close at 15,318.23, adding to its triple-digit gain from the previous session.

The S&P 500 climbed 12.77 points to end at 1,651.81. And the Nasdaq jumped 30.05 points to finish at 3,482.18.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, closed below 17.


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