Since the Fed hikes rates half a point and will shrink assets to curb inflation, what does it mean for our shares $Marathon(MRO)$+ $ConocoPhillips(COP)$?
The Federal Reserve delivered the biggest interest-rate increase since 2000 and signaled it would keep hiking at that pace over the next couple of meetings, unleashing the most aggressive policy action in decades to combat soaring inflation.
The U.S. central bank’s policy-setting Federal Open Market Committee on Wednesday voted unanimously to increase the benchmark rate by a half percentage point. It will begin allowing its holdings of Treasuries and mortgage-backed securities to decline in June at an initial combined monthly pace of $47.5 billion, stepping up over three months to $95 billion.
U.S. stocks rallied across the board Wednesday, all 11 S&P 500 sectors were positive on the day in the last hour of trading. Stocks leveraged to an improving economy were among the biggest winners. Energy was the top-performing sector, so I guess it is good news for us, seeing we already made ~10% profit since our first post [Smile]
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