JP Morgan's Announcement Sends Stocks Higher

Throughout the day's session, stocks slow melted up ahead of the FOMC's rate decision. Then, right around 3pm, JP Morgan JPM announced that it was raising its dividend by $0.05 and buying back $15 billion of stock. In the wake of the announcement, JP Morgan's shares spiked sharply higher, and are currently trading up over 7% going into the close. JP Morgan's announcement prompted the Federal Reserve to state that it was planning to release the full results of its stress test at 4:30pm.