Market Roundup
17,749.09 (+224.18)
$1,072.50 (+$10.70)
$36.95 (-$1.56)
The Fed finally did it.

After waiting more than nine years, the Federal Reserve voted unanimously to raise short-term interest rates by 25 basis points, or a quarter of a percentage point. That puts the new range at 0.25%-0.50%, versus 0%-0.25% previously. We haven’t seen a rate increase in this country since June 2006.

In the statement explaining its move, the Fed cited a “moderate” economic expansion and strength in housing spending and business fixed investment. It also said “underutilization of labor resources has diminished appreciably” — Fed-speak for the job market is getting better.

To read the rest of my Afternoon Edition, click here ...