In the UK the FTSE 100 was down 48.3 points at 4,464.1 on Wednesday after the latest US economic data fell short of expectations and US markets where down in early trading.

However when the Federal Reserve announced the expected rise in interest rates by 25 basis points the U.S. stocks closed with moderate gains.

The move, which brings the rate to 1.25 percent, was the central bank's first hike in roughly four years. The language of the Fed's accompanying policy statement will now come under scrutiny as it left the 'measured' pace phrasing in place with regard to the degree and timing of its tightening in the face of inflation.

'With underlying inflation still expected to be relatively low, the committee believes that policy accommodation can be removed at a pace that is likely to be measured,' the statement said.

The committee added that it would respond to changes in the economy as needed, and that it believes a portion of recent price increases were 'due to transitory factors.'

The Dow Jones Industrial Average added about 22 points, or 0.2 percent, to close at 10,435.48, while the Nasdaq Composite finished up almost 13 points, or 0.6 percent, at 2,047.79.

The indexes were mixed prior to the decision with the Dow down about 15 points, and the Nasdaq hovering just above the flat line.

The S&P 500 index rose 0.4 percent to 1,140.75, while the Russell 2000 index of small-cap stocks advanced 0.6 percent to 591.52.

All in all not very exciting and one wonders why the UK was so nervous.

Good Hunting
Anticlimaxed of Oxon

Martini

thanks as ever

"one wonders why the UK was so nervous" - yes but we should all be used to it by now! lets just hope that we get the resultant relief in the morning and open UP!

morning campers,

morning all:
Wonder if we are going to get clear skies, blue waters and mountain climbing today on the markets today after skiing down the slopes yesterday.

rgds
zarif

very poetic zarif :-)

Morning.

FIB getting whacked on CTM news. Ouch!

ROK nudging.

morning all,just sold cna,nice profit,looking to get some more sainsburys .umm dont you just love bottom feeding.

mornin all

poor colt telecom down 27%.

Where are my manners???


Morning all!

PLR moving in the right direction.

Nice One Big Al.

I am long on this and can wit a while too.

Werer you short on CTM?

Morning all,

I'm supposed to be away, but came back early, but this has meant juggling
things, so very short of time. (Can trade, but no time to post!)

Have to admit I was short CTM overnight! Closed +22 in the auction.
Now scalping CTM shorts.

sw - not short CTM, but long FIB, which got caught in the sector down move. Holding for now, but trade not pretty on paper!!

Well done, lw.

Welcome back BTW

Too much on today. Meant to say thanks Big Al as I was in and out of JKX last week and also made a nice little profit - I owe you a drink. Still holding DNX, not doing too badly. Hope you have recovered from jet lag - my experience of numerous trips to SFO was felt great on return, but deathly on third day!

Well done on CTM, LW.

I thought I had bought SBRY at its lowest possible point .........

JJ50

It appears DNX has had a breather and is now looking for the next leg north - lets hope so eh

jj - my pleasure. Just don't buy everything I do as I have my fair share of losers too - don't we all!! ;-))

On JKX, I'm minded to re-enter if it breaks out with a very tight stop or wait for the pullback. It is still to make up its mind whether this is a top for now or only a consolidation. Many in the sector are doing the same, but DNX seems to have retested the break and gone again. I missed it as was out. ;-(

Fundie,

Yes, was very tempted to sell but decided to grit my teeth and hope it breaks the next resistance level.

Thanks all

Its a pity I can't do this every day. I'd never have to work again!

SEY going backwards .. ASC doing well again though

You and me both lw!! ;-))