Risk Rally Continued in the Aftermath of FOMC Meeting

Financial markets continued to react positively to Fed's monetary stance in September. Catching up with Wall Street's risk rally just after the FOMC announcement, the pan-European STOXX 600 gained +1.6%. Germany's DAX soared +2.3% while the UK's FTSE added +1.1%. Wall Street climbed further higher with DJIA and S&P 500 indices adding +0.5% and +0.7% respectively. Much of the gain was driven by the energy sector. Energy prices soared as the meeting between Saudi Arabia and Iran ignited hopes of output freeze.