The Wall Street Journal reports,"the market was looking pretty dicey on Tuesday morning. But by Wednesday’s closing bell, just about everything had turned around. What changed? Do you really need to ask? It was a double-barreled blast of jawboning from everybody’s favorite central bank, the Federal Reserve.
First, San Francisco Fed president John Williams suggested he wasn’t convinced the jobs market could maintain its position without Fed support. Then a paper from two key Fed economists suggested the bank should extend its commitment to low rates for even longer in order to bring down unemployment. The two dovish messages were definitely received by the market.
The other big thing happening is Twitter’s IPO. The offering is expected to priceWednesday night somewhere between $25-$28 a share, and start trading Thursday".
