FED holds rate the same at .0 -.25%. Comments by Helicopter Ben in his news conference helped boost stocks near the end of the trading session, reiterating that the FED still has tools left to use in supporting the economy. The FED also boosted their economic growth projection between 2.4% and 2.9% in 2012.
All averages gain on the day. The DOW up 89 points, Nasdaq up 68 points, and the S&P 500 up 18 points.
Caterpillar (CAT) big decliner in the DOW falling 4.58%
Boeing (BA) big gainer in the DOW rising 5.29%.
Apple (AAPL) continues to gain after their net income nearly doubled on the back of strong iPhone sales. The stock gained 9% closing at $610.
Chip companies gained today on the back of Apple earnings released yesterday.
German debt sale was weak with only 2.7 billion euro bids where they where seeking 30 billion of 30-year bonds.
A check on who are the worlds ten largest economies: (in trillions of US dollars)
US – 15.1
China – 7.3
Japan – 5.9
Germany – 3.6
France – 2.8
Brazil – 2.5
UK – 2.4
Italy – 2.2
Russia – 1.9
Canada – 1.7
By 2013 it is estimated that India will overtake Canada for the #10 spot