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Market Opens at Record Highs After Fed’s Taper Fake Out


A taper fake out set the stage for a historic opening bell on Thursday morning after the Federal Reserve delivered a stunner on Wall Street, announcing that quantitative easing measures totaling $85 billion in monthly asset purchases will remain in place. The unexpected decision sent the Dow Jones Industrial Average (^DJI) and the S&P 500 (^GSPC) to close at fresh record highs on Wednesday, and the Nasdaq (^IXIC) closed at a 13-year high.

Stocks are flat in early trading today, while gold prices are soaring over 4% and the U.S. 10-Year Treasury yield is up to 2.74%.