FOMC to Boost Growth by Reinvesting MBS Proceeds. Oil and Gold Pare Losses

Financial markets were initially under pressures in US morning as driven by weak non- farm productivity and small growth in unit labor costs. DJIA and S&P 500 plunged to as low as 10552 and 1112 respectively before recovering after the Fed announced to reinvest MBS proceeds. Both indices trimmed losses to 0.5-0.6% at close.

View original post here:
FOMC to Boost Growth by Reinvesting MBS Proceeds. Oil and Gold Pare Losses