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Trackinsight: US ETF appetite rejuvenated on Fed’s steady rates announcement

09/23/2021 | 09:45am EDT

US Federal Reserve decided on Wednesday to keep benchmark mark interest rate near zero.

US Federal Reserve (Fed) decided on Wednesday to keep benchmark mark interest rate near zero. The announcement that came part of a two-day meeting also indicated that the process of scaling down bond-buying programs is looming, without any actual commitment to a date.

US Stocks received a fresh injection of optimism with the S&P 500 up by almost 1%. Energy, Financials and Technology shares were the biggest beneficiary gaining +3.17%, +1.58% and +1.40% respectively.

Major ETFs targeting these three S&P 500 sectors tagged along with similar gains by Energy Select Sector SPDR Fund ETF (XLE, +3.08%), SPDR Financial Select Sector Fund ETF (XLF, +1.67%) and Technology Select Sector SPDR ETF (XLK,+1.37%)

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© www.trackinsight.com 2021
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