Stocks storm back into the green
Stocks staged a comeback after falling immediately following the Federal Reserve's policy announcement on Wednesday afternoon.
Near 3:21 p.m. ET, the Dow was up 89 points, the S&P 500 was up 11 points, and the Nasdaq was up 31 points.
The FOMC concluded its two-day meeting today and left interest rates unchanged, as expected.
(Google Finance)
In economic data: The advance goods trade balance showed a big reversal in the trade deficit to a seven-month low of $58.6 billion.
Pantheon Macroeconomics' Ian Shepherdson wrote to clients, "We were always suspicious of the terrible August numbers, which showed exports plunging while imports surged, but even so this is a much better report than we expected, and it will lift forecasts for tomorrow's Q3 GDP number by about 0.4%."
Apple shares rose about 2% in early trading, following yesterday evening's earnings results that beat forecasts on the top and bottom lines. IPhone and iPad unit sales were a bit light.
Twitter was down 9%, after the company reported slower-than-expected growth of active users on Tuesday.
Also yesterday, Walgreens Boots Alliance confirmed reports that it was buying Rite Aid. Walgreens will pay $9 per share in a deal that's valued at $17.2 billion, including debt.
In commodities, gold, silver, and oil prices were rallying. Gold climbed more than 1%, or about $16 an ounce, to as high as $1,182.50 — a two-week high.
West Texas Intermediate crude oil futures in New York rose more than 6% to as high as $45.88 per barrel.
(Finviz)
Meanwhile, natural gas was down about 3%, after tumbling below $2 per million British thermal units on Tuesday (a three-year low), following forecasts that this winter will be warmer than normal. It's good news for people with gas heating.
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