VectorVest’s Weekly Recap for December 20, 2013
The Major Indices began the week with a bang as investors cheered a 3% climb in third quarter Manufacturing, but the upside momentum stuttered briefly Tuesday as the Fed deliberated decisions affecting ongoing stimulus measures and key interest rates.
The outcome of these discussions sent the market into a state of euphoria as the Fed announced they would be cutting back the current stimulus measures by $10 billion but leaving key interest rates untouched (for now). The Dow, S&P 500 and Nasdaq celebrated this good news by soaring 1.8%, 1.7% and 1.2%, respectively.
These big gains were only temporary though…