Over the past six months, the Fed has injected $85 billion per month into the financial system in a bid to keep interest rates low and push investors into equities. The Fed's goal was to keep the program in place until such time as the U.S. job market got back on its feet. Recent comments from Fed Chairman Bernanke regarding the possibility of a gradual pullback from the program dealt a heavy blow to stocks around the world, with markets losing close to $3 trillion since May 22.
At the time of this writing (June 19), the USD is relatively stable against most G7 currencies. On Tuesday, the S&P 500 closed Tuesday at its highest level in June, and futures on the index are currently holding steady. Wishing you a great day. Rana Karim
Range of the day: 1.0150-1.0300
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The S&P 500 Closed On Tuesday At Its Highest Level For June
Published 06/20/2013, 01:31 AM
Updated 05/14/2017, 06:45 AM
The S&P 500 Closed On Tuesday At Its Highest Level For June
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