Study Finds 60% of Market Gains Came on Fed News

Ruchir Sharma, Chief Global Strategist at Morgan Stanley had an interesting Op-Ed in the Wall Street Journal. In it, he studies the market reaction to Federal Reserve rate hike announcements and found "the S&P 500 index has gained 699 points since January 2008, and 422 of those points came on the 70 Fed announcement days." Statistics are tricky things, but this is worth a read. Wall Street Journal