U.S. stocks surged on Wednesday, with the Dow marking its best session of the year, as investors celebrated a rally in the energy sector and the Federal Reserve’s pledge to be patient in raising interest rates.
after the Federal Reserve retained the phrase “considerable time” in its policy statement, and also introduced another word, “patient,” as the central bank readies to raise interest rates next year.
The subtle change in wording could be a “compromise between keeping it in there and pulling it out completely, or that’s my reading of the tea leaves,” said Tom Kersting, principal and fixed income investment strategist for Edward Jones.
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