Fed To Begin Tapering, Markets Soar

The Federal Reserve will begin tapering its bond buying program in January citing the improving economy. The markets surged to record highs with the Dow rocketing 292 points to 16,167. Nasdaq surged 46 points to 4070.

On the upside

A Seeking Alpha contributor noted that the outlook for Ariad Pharmaceuticals' (Nasdaq: ARIA) leukemia treatment Iclusig was improving and that investors would likely recover their investment in the company.

Halozyme Therapeutics (Nasdaq: HALO) appointed Helen Torley to the position of president and chief executive officer beginning January 6, 2014.

Syntroleum (Nasdaq: SYNM) will be acquired by Renewable Energy Group.


On the downside


Investors locked in profits on AmTrust Financial Services (Nasdaq: AFSI).

VeriFone Systems (NYSE: PAY) fell to a loss for the fourth quarter and forecast current quarter results below expectations.

Albemarle (NYSE: ALB) blamed weak demand for lowering its fourth quarter outlook.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by 5 to 2 on Nasdaq. The broader S&P 500 soared 29 points to 1810. Bitcoin plunged $14.56 or 2.50% to $568.40.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.