U.S. Federal Reserve and Gareth Watson

sovereign debt crisis: South of the border, markets posted a strong advance as the U.S. Federal Reserve began a two-day meeting where its is expected to maintain the status quo on rates that have been at historically low levels since the Great Recession, according to The Toronto Star. However, the gains in New York were not enough to reverse the losses of the previous two sessions when a breakdown in talks on Greece sovereign debt crisis brought out the bears. The S&P/TSX composite index ended the day down three points at 14,753.05. The Dow Jones industrial average closed up 113.31 points at 17,904.48 after the widely watched index suffered triple-digit losses on Friday and again on Monday. Gareth Watson, vice-president of investment management and research at Richardson GMP Ltd., said the stabilizing of the price of oil around $60 has had a mediating effect on the Canadian market. The Nasdaq rose 25.58 points to 5,055.55, while the S&P 500 added 11.86 points to 2,096.29. (news.financializer.com). As reported in the news.