Home Uncategorized Stocks stage comeback after Fed extends bond buying

Stocks stage comeback after Fed extends bond buying

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After opening sharply lower on Monday morning, US stocks staged a comeback over the course of the day, with the SP 500 finishing the day 0.8 higher and the tech heavy Nasdaq Composite up 1.4. Investors were buoyed by movements from the Federal Reserve, which said that it is expanding its bond buying program to include the debt of individual companies. Up until now, the central bank had only been buying ETFs in order to pump money into corporate bond markets.