You still can't fight the Fed

You still can't fight the Fed. US stocks are rebounding from a seven-day decline that erased $1 trillion from equity prices and coincided with a 15 percent drop in West Texas Intermediate crude... The broader gauge is 1.5 percent below a record. Should it continue, the recovery would be the fifth time this year the S&P 500 has come back after falling more than 4 percent from a high. In comparable drops beginning in January, April, July and September, the index needed about a month to erase losses. Fed Chair Janet Yellen clarified policy plans, saying she is likely to hold rates near zero at least through the first quarter even as the economy strengthens. The potential for a later increase in borrowing costs boosted stocks and currencies of emerging-market nations that may see investments decline if rates rise in developed countries. Russ Kosterich from BlackRock says, just as with other instances, a dovish Fed is making up for a lot of bad news, from Europe from other parts of the world. Full article here: (VIEW LINK)

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