Tuesday, March 13, 2012

End of Day Surge post FOMC

Stocks End of Day Surge

Equity markets were up straight out of the gate and all throughout the day and then surged even higher into the last hour of trade as the market responded rather exuberantly after digesting comments from the Feds FOMC meeting.

Before the Fed’s comments, the VIX, fell to a near five-year low of 13.99 intraday. It’s a gauge of how much investors are paying to protect against losses in the S&P 500, which has rallied five straight days. The VIX ended the day at 14.80, down 5.4 percent.