Surprise from the Fed: no taper

09/18/2013 2:22 pm EST

Focus: STOCKS

Jim Jubak

Founder and Editor, JubakPicks.com

Surprise, no taper. The Fed will keep its $85 billion in month purchases of Treasuries and mortgage-backed securities intact. You can read the full statement from the Federal Reserve’s Open Market Committee here http://www.federalreserve.gov/newsevents/press/monetary/20130918a.htm

At the moment, sectors that are especially happy with the no taper decision include materials, gold, silver, gold miners, coal, REITS, utilities, and, especially homebuilders. The iShares Home Builders ETF (ITB) popped 2.5% on the press release.

Now onto the press conference at 2:30.

 

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