September 22: Market Summary

Fed keeps the party going


Markets

Here are today’s market moves:


What Happened?

  • The S&P 500 and other major indexes climbed on Wednesday, recovering losses from earlier in the week.

  • The Federal Reserve signaled that it may begin easing its support for the economy later this year and a possible 2022 interest rate hike.

  • The Fed’s support has been credited for helping keep the stock market moving higher since the start of the pandemic.

  • The S&P 500 is only 3% away from its highs despite a choppy September.

  • The crypto market gained on Wednesday, with Bitcoin trading above $43,000 and Ether near $3,000.


Catch Up

  1. Facebook's Chief Technology Officer to step down after 13 years.

  2. U.S. House approves bill to suspend debt limit, fund government.

  3. Robinhood is testing a new crypto wallet and transfer features.


What Else?