“Stocks trade near record highs as investors digest Fed’s latest move”
December 16, 2021
“U.S. stocks rose slightly in early trading Thursday trading the Federal Reserve signaled it would be aggressive on tapering and sees three interest rate hikes in 2022. The Dow Jones Industrial Average climbed 137 points. The S&P 500 was flat and within striking distance of a record close. The Nasdaq Composite was down 0.7%.
Thursday’s moves came a day after stocks rallied in the previous session as the Federal Reserve announced a more aggressive plan to wind down its asset purchases and hike rates in 2022. Shares of companies that have done well in previous rate-hiking cycles led early gainers on Thursday, with materials stock Freeport-McMoRan rose more than 3%. Bank stocks also rose across the board, with JPMorgan Chase, Citigroup and Bank of America all up about 1%…”
https://www.cnbc.com/2021/12/15/stock-futures-market-open-close-news.html