U.S. market indexes closed higher for the day on Monday. Increased transparency from the Federal Reserve on the U.S. economy’s growth and the influence from the global markets helped fuel gains for the day. The Standard & Poor's 500 was up 0.47% led by the financial sector, which increased 1.15% for the day. The Dow Jones Industrial Average gained 0.79% on Monday led by Apple (AAPL, Financial), which gained 1.55%.
While the Fed did not raise rates in September, its projections and comments alluded to a rate increase before the end of the year. Without any other significant global market developments that would greatly impact inflation in the United States, the Fed’s September meeting signaled that a federal funds interest rate increase will occur soon. Indecision from the Fed could create a buying opportunity for investors over the next few weeks as overextended selling has greatly affected many parts of the market. In a recent interview with CNBC, Bob Doll of Nuveen Asset Management discussed his perspective on the current market and where investors can find value in the short term.
