Markets closed up on Wall Street: DJI +0.09% SP500 +0.38% Nasdaq +0.65% Gold –0.23%
The markets were up because:
- The Federal Reserve confirmed they will do more quantitative easing. The doubters now have nothing to wait for except to see cash money sprayed into the economy. Check Out: Your Cheat Sheet to the FOMC Minutes >>
- Wall Street pay hit a record high and that cash needs a home. The WSJ reported that Wall Street will set a new record for pay this year. Don’t Miss: Chart Junkie: Record Wall Street Pay versus Record Food Stamp Recipients >>
- The US offshore drilling ban was lifted. Oil drillers are back to business.