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Market Wrap

S&P500 +1.66%

Fed tapered by $10B

“The Committee now anticipates, based on its assessment of these factors, that it likely will be appropriate to maintain the current target range for the federal funds rate well past the time that the unemployment rate declines below 6-1/2 percent, especially if projected inflation continues to run below the Committee’s 2 percent longer-run goal.”

ORCL call: guidance +2-6% y/y sales vs. 4% y/y est. 68-72c EPS vs. 70c est. License +1-11% y/y vs. 5.1% y/y est. Guidance basically in-line

DB on $F "initial 2014 guidance..Pretax Profit of $7-$8bn, vs our forecast of $9.8bn..we believe is about $600MM below the Street"

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