# Fed Chairman Powell Makes Pledge, Market Rallies

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Last modified: 2021-09-22

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By Paul Ebeling · 2021-09-22
Tags: Stocks, Fed, policy, rally, FOMC, monetary, Paul Ebeling, Bitcoin, coins, US Stocks, Crypto, coin, Bitcoin, Ripple, Ethereum, Knightsbridge Insights, DeFi, Knightsbridge, DeFI, GBITS
Signed: no (published before platform launch).
Nothing in this article is investment advice.

#Fed #FOMC #monetary #policy #rally 

$DIA $SPY $QQQ $RUT $VXX $HOOD $BTCUSD $AAPL

"*The DJIA rallied after the Fed gave clearer guidance on when tapering will begin*" -- Paul Ebeling

Wednesday, the 3 benchmark US stock indexes rose 1% as investors took in stride the latest signals from the Fed, including clearing the way for the Fed to reduce its monthly bond purchases *'sometime' *soon.

The policy-setting FOMC held interest rates at near-Zero in its updated statement.

The S&P 500 registered its biggest daily percentage gain since 23 July 2021.

In its statement, the Fed suggested interest rate increases may follow more and said overall indicators in the economy *"have continued to strengthen*."

The FOMC has o2more meetings this yr, 1 in early November and 1 in mid-December.

Bank shares rose following the Fed news, with the S&P banks index ending up 2.1% on the day, and S&P 500 financials up 1.6% and among the biggest gainers among sectors.

Some strategists viewed the Fed's comments Bullish to Very Bullish

The DJIA rose 338.48 pts, or 1%, at 34,258.32, the S&P 500 gained 41.45 pts, or 0.95%, at 4,395.64 and the NAS Comp added 150.45 pts, or 1.02%, at 14,896.85.

Apple ([NASDAQ:AAPL](NASDAQ:AAPL))and other big technology-related names gave the S&P 500 its biggest boost.

Advancers outnumbered decliners on the NYSE by a 3.88-to-1 ratio; on the NAS, a 2.38-to-1 ratio favored advancers.

The S&P 500 posted 9 new 52-wk highs and 8 new lows; the NAS Comp recorded 52 new highs and 66 new lows.

Volume on US exchanges was 9.91-B/shares, compared with the 9.99-B average for the full session over the last 20 trading days.

[Bitcoin, GBITS and other DeFi Coins rallied too!](https://charts.bogged.finance/0x0Ee32D0F42bA41AF60b61CdCCe13a7E1a552502d)

Have a prosperous day, Keep the Faith!

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