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14:24: Floor Talk: Market lifts to session highs reaction to FOMC minutes, which affirmed possibility for further quantitative easing; dollar pulls back

The FOMC Minutes were a highly-anticipated event today, as market participants were eager to glean any clues on the Fed's attitude toward further quantitative easing ("QE2"). While the market's initial was relatively subdued, the major averages have since popped to session highs (the Dow has jumped ~30 pts and is now +12; SPX is +3, Nasdaq Comp +14). The dollar index (DXY) has gotten hit, and is now -0.173 at 77.269.

The minutes indicated that additional monetary policy accommodation may be appropriate before long, but also that any decisions would depend upon future information about the economic situation and outlook. So, the bid in the market may be explained by the idea that the minutes affirmed the possibility of further quantitative easing measures, but at the same time, didn't scare anyone with alarming comments regarding economic conditions.