On the day prior to the start of the Federal Open Market Committee’s two day series of meetings to decide whether to raise interest rates, stocks saw gains across the board. The rise was helped in part by the stabilization of the price of oil which settled up $1.04, or 2.86 percent, at $37.35 a barrel.
Jeremy Klein, chief market strategist at FBN Securities told CNBC:
“I think guys are now at the point they’re just trying to get a position ahead of the Fed.There’s still a little uncertainty. That’s why I think you can still slingshot higher after the Fed decision.”
Meanwhile, David Kelly, chief global strategist at J.P. Morgan Funds said:
“Core inflation is gradually moving up. The risk of seeing internally generated deflation is very low and this report will only serve to support the Fed raising rates.”
Watch more of why stocks rose ahead of the Fed’s big gathering tomorrow on CNBC below.
Here are the final numbers from Tuesday, 12/15/15 on Wall Street:
Dow Jones Industrial Average: 17, 524.91 (+156.41/ +0.90%)
NASDAQ: 4,995.36 (+43.13 / +.87%)
S&P 500: 2,043.41 (+21.47 / +1.49%)
