Doves are Pretty

I like doves much more than hawks. And in "market talk," a "dovish" statement means just as it sounds - less agressive, less scary - less hawkish. Traders have been anticipating today's Fed statement for weeks, and the outcome was just that. Although the rates were raised a quarter of a point to 5.25%, the statement made was "dovish." The overtones in the Fed's speech sent stocks soaring, with the Nasdaq gaining almost 3%, and the Dow up almost 2%. And this just in: EMC has agreed to buy RSA Security in a deal worth more than $2.1 billion. Those mergers keep rolling in! DJIA: +217.24 Nasdaq: +62.54 S&P 500: +26.87