Fed raises rates, markets surge to close sharply higher

The Federal Reserve lifted interest rates by a quarter percentage point sending the markets soaring to a sharply higher close with the Dow surging 112 points to 20,950. Nasdaq climbed 43 points to 5,900.


On the upside


Shares of Ardagh Group (NYSE: ARD) surged in its market debut.


IAMGOLD (NYSE: IAG) signed an option agreement to earn an interest in Miranda Gold's Antares Project in Colombia.


Everi Holdings (NYSE: EVRI) reported a loss for the fourth quarter but revenue rose.


On the downside


FTD (Nasdaq: FTD) widened losses for the fourth quarter as revenue fell.

Achaogen (Nasdaq: AKAO) widened fourth quarter losses more than expected.

Titan International (NYSE: TWI) reported a wider than expected loss for the fourth quarter.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 index soared 19 points to 2,385. Bitcoin gained $4 to $1,241.


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