Fundamentally what we saw was the market picking up a little after the Fed said they were not going to do anything and the news was as expected.
More Quotes from Kate Warne:
Expectations have come down enough at this stage. This is the first day in a long time when the market has ignored bad news and the sentiment has remained positive,Kate Warne
What we're seeing today is a combination of lower oil prices and concern about the strength of the economy in the second quarter.
Kate Warne
Pullback time. All the leaders turned tail and ran.
Kate Warne
Today the optimistic spirits prevailed and confidence just built as stocks held their higher levels, ... Everybody's now thinking maybe we've seen the bottom.
Kate Warne
Obviously the market was very nervous about what the Fed is going to do tomorrow.... But I think by the end of today people began to get optimistic that things are not quite as bad as they seemed to be last week and prices are actually pretty good right now.
Kate Warne
I think (investors) are sort of sitting on the sidelines, thinking there will be better values in a few weeks. (Investors are) searching for where can we put money that won't get hit in the short term.
Kate Warne
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