US Stocks Soared as Fed’s Tapering would Likely be Moderate

US shares ended the day higher although both Asian and European stocks weakened during the day. It appears that investors expect the Fed’s tapering would only be carried out at a moderate pace. Moreover, the market has remained optimistic that the Fed’s monetary policy outlook would continue to be accommodative, especially after Larry Summers has withdrawn from the Fed Chairman candidacy. In the commodity sector, crude oil prices plummeted as geopolitical tensions eased upon a US-Russian deal to disarm Syria’s chemical weapons and Libya’s oilfields resumed operation.

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US Stocks Soared as Fed’s Tapering would Likely be Moderate