The Fed did it. It finally pulled the trigger on a taper of its $85-billion-per-month bond-buying program. Although the taper wonâ??t begin until 2014, the early sign from Wall Street is that traders love the decision.
Stocks vaulted some 200-plus Dow points about 30 minutes after the Fedâ??s 2 p.m. EST announcement today largely due to two main factors. The first, and by far the most important, was the removal of uncertainty about what would happen with the taper and when it would begin. Thatâ??s a far cry from the Fedâ??s meeting in September, when everyone was expecting a taper announcement such as we had today but no such announcement occurred.
Read more about how you can profit from the Fed’s decision to taper at Eagle Daily Investor.