Wednesday's Market Recap -Fed Hikes Rate 25 Basis Points, Sending Stocks Higher.

What is The Premarket Telling Us?

US stock futures mostly flat, with Dow futures up 3 points, Nasdaq futures at 5.75 points, and the S&P futures down a fraction 0.75.

Democrat, Doug Jones, pulled off the impossible last night, by winning the Alabama Senate seat, vacated by current US Attorney General, Jeff Sessions. A truly historic win.

On The Bond Desk:

US 10 year bond yield has tick up to 2.40%, up 0.01% or one basis point.

Currency Desk:

Euro dollar at 1.17

UK Pound at 1.33

Crude Oil:

WTI crude oil futures lower at $57.73/barrel, down 0.45%.

On the Earnings Calendar:

None

In M&A News:

Target is buying Shipt in a deal worth $550 million to counter the threat from Amazon

What About The Asian And European Markets?

Major European markets closed mostly higher; Japan (Nikkei 225) down 0.47%, Shanghai up 0.68%, and Hong Kong (Hang Seng) up 1.49%.

Major European markets traded lower in today session; Germany DAX lost 0.44%, France CAC 40 down 0.51%, London FTSE 100 0.05%.

Market And Sector Dynamics

Markets opened modestly higher, as the Dow rose 27 points, Nasdaq gained 20 points, and the S&P added 3 points. Stocks moved convincingly higher as the morning session progressed, even as the FOMC is expected to announce a rate hike later this afternoon.

Once the FOMC rate hike was announced, stock ticked lower, but regained its momentum a short while later.

Nine of the eleven S&P sectors traded with gains, led by consumer goods, basic materials, industrials, healthcare, and utilities were the outperformers.

Factors Influencing Today's Market

• Crude oil fell in today's trading. WTI crude oil price closed at $56.60/barrel, down 0.95%.

• This week's EIA Status Report showed Crude oil inventories fell 5.1 million barrels to 443.0 million.

• Target agrees to buy Shipt to help it compete with Amazon.

• The Fed/FOMC hike interest rate by 25 basis points.

• November CPI rose 0.40%, boosted by higher gasoline price.

• The US 10 year bond yield has ticked up

Market Close Volume Traded And Advance Decline Ratio

When the markets closed, the Dow gained 80.63 points, a new record, Nasdaq added 13.48 points, and the S&P slipped 1.26 point. total NYSE volume traded, 3.31 billion shares. Advancing shares outpaced Declining shares better than even.

Data Sources: Bloomberg, CNBC, CNN Money, Google Finance, Market Watch, TD Ameritrade, Yahoo Finance.