Comment on US stocks open mostly higher after a two-day rally

US stocks open mostly higher after a two-day rally

NEW YORK (AP) — Major stock indexes are creeping higher on Friday as the market comes off a massive two-day rally spurred by the Federal Reserve's assurance that it was in no hurry to hike interest rates. CarMax jumped 8 percent in early trading after the used car dealership posted a 22 percent surge in its quarterly profits thanks to higher sales. At the start of the week, investors were concerned by falling oil prices and the state of the world economy. [...] stock markets staged a turnaround Wednesday, when Janet Yellen, the Federal Reserve chair, said she saw no reason to hike interest rates in early 2015 and that the central bank would be "patient" in deciding when to raise rates from near zero. ANALYST'S TAKE: "The major equity markets are finishing the trading year on a positive note thanks to Janet Yellen's Christmas message," said Neil MacKinnon, global macros strategist at VTB Capital.

 

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