Francois Boucher The Rape of Europa painting

Francois Boucher The Rape of Europa painting
Michelangelo Buonarroti The Creation of Adam painting
The timing of the Fed announcement was totally unexpected. It caused a lot of excitement in the trading community to have this kind of action to snap us out of the doldrums," said Peter Coolidge, senior equity trader with Brean Murray & Co. "This brought the market back to life on pretty heavy volume."Trade volume hit a record 3.09 billion shares on Nasdaq, where more than three shares rose for every one that fell. The previous highest volume was 2.88 billion set on April 4. Investors who 'shorted', or sold borrowed stocks with the aim of buying them back later at a lower price, rushed to cover positions on the Fed move. A pile of economic data painting a bleak economic picture had convinced investors that the Fed will ratchet down interest rates at its next meeting on Jan. 30-31.