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US ETF appetite rejuvenated on Fed's steady rates announcement
US Federal Reserve decided on Wednesday to keep benchmark mark interest rate near zero.
By Rony Abboud
0
- United States
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US Federal Reserve (Fed) decided on Wednesday to keep benchmark mark interest rate near zero. The announcement that came part of a two-day meeting also indicated that the process of scaling down bond-buying programs is looming, without any actual commitment to a date.
US Stocks received a fresh injection of optimism with the S&P 500 up by almost 1%. Energy, Financials and Technology shares were the biggest beneficiary gaining +3.17%, +1.58% and +1.40% respectively.
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Major ETFs targeting these three S&P 500 sectors tagged along with similar gains by Energy Select Sector SPDR Fund ETF (XLE, +3.08%), SPDR Financial Select Sector Fund ETF (XLF, +1.67%) and Technology Select Sector SPDR ETF (XLK,+1.37%)
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