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U.S. Equities Climb After Fed Amid Rally in Banks, Energy Shares
- Fed leaves rates unchanged as it ponders a December move
- FOMC briefly interupts rally led by energy, Apple shares
Fed: Economy Is Still Expanding, Rates Unchanged
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U.S. stocks soared to a two-month high as commodity producers rallied and the Federal Reserve’s signal that it may raise interest rates as soon as December sent financial shares surging.
Equities had advanced into the afternoon Fed statement, boosted by Apple Inc. following its better-than-expected results and by energy shares as oil surged the most in eight weeks. The indication that policy makers are still considering a rate increase this year briefly undercut the gains before banks jumped on the prospect of stronger profits.