Scott Heins is a photographer.
The Federal Reserve's view that the US economy is strong enough to handle three interest rate increases next year boosted investor confidence.
The S&P 500 was headed for a record high after the Fed signaled it may raise interest rates at least three times in the next four years to cool the hottest inflationary environment in 40 years.
There are economic risks from new coronaviruses, according to a statement from the Fed. It said it sees progress on vaccinations and an easing of supply constraints as supporting continued gains in economic activity.
The US indexes stood at 9:30 a.m. on Thursday.
The market seems to be happy that the FOMC wasn't more aggressive than they were and that the market will be okay when the time comes.
After the Bank of England surprised markets by raising the UK's benchmark rate to 0.25 percent from 0.1%, the British pound climbed.
El-Erian said that some Fed policymakers might be wishing they'd been more aggressive about pulling back monetary stimuli.
During the meme stock frenzy this year, the go-to destination for day traders was the message boards of Reddit, which has confidentially filed for an initial public offering in the US.
Oil prices went up. West Texas Intermediate crude was up to $71.17 per barrel. The international benchmark for crude oil was up 0.4%.
The price of gold increased to $1,786 per ounce. The yield on the 10-year bond was up 1 basis point.
It fell to $48,487.70.
Business Insider has an original article.
