Tags: Birinyi | S&P 500 | Rises | Fed | Rate | Days

Birinyi: S&P 500 Rises on 75 Percent of Fed Rate Days

Tuesday, 21 Sep 2010 08:33 AM

The Standard & Poor’s 500 Index has risen on 75 percent of the days since March 2009 when the Federal Reserve announced its interest-rate decisions, according to Rob Leiphart of Birinyi Associates Inc.

The index of U.S. stocks climbed on 9 of the 12 days since March 18, 2009, that the Fed reported its decision, rising an average of 0.5 percent, according to a report dated yesterday by Westport, Connecticut-based Birinyi. The Fed kept its rate unchanged each time.

The Washington-based Fed, whose Open Market Committee is scheduled to meet today, is likely to affirm its pledge to keep interest rates low for an “extended period,” according to economists surveyed by Bloomberg News. All economists expect the rate to remain unchanged today.

The S&P 500 has risen 47 percent since March 17, 2009.

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The Standard Poor s 500 Index has risen on 75 percent of the days since March 2009 when the Federal Reserve announced its interest-rate decisions, according to Rob Leiphart of Birinyi Associates Inc. The index of U.S. stocks climbed on 9 of the 12 days since March 18,...
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2010-33-21
Tuesday, 21 Sep 2010 08:33 AM
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