Stocks Edge Higher After Fed Holds Rates Steady
Tuesday, March 16, 2010
Market Commentary:
The benchmark S&P 500 index jumped to a fresh 17-month high after the Federal Reserve decided to hold rates steady and pledged to keep rates low as the economy continues to improve. Compared to the prior session, volume rose on the NYSE and Nasdaq exchange which was a welcomed sign. Advancers led decliners by a wide margin on both exchanges which was another healthy sign. There were 54 high-ranked companies from the CANSLIM.net Leaders List that made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page, up from the 43 issues that appeared on the prior session. New 52-week highs again overwhelmingly trumped new lows on both exchanges.