Bulls in the stock market just implied that they are not going to be dented by a mere 25 basis points rate hike, which the case should be, since FED policy is still very accommodative and going by FED chair Janet Yellen, it is likely to remain so at least for next few quarters.

Stock markets across the globe was already up before FED decision and just continued business as usual way. Today it is higher further, relieved that first hike is done with and without any chaos in the market.

S&P 500 is up for fourth consecutive day, trading at 2075. Since yesterday it is up 1.4%. Analysts are calling it a great relief rally.

European stocks are doing even better, pan European blue chip index, EuroStxx50 is up 1.8% since yesterday, trading at 3300. Probably continued easing by ECB is doing the extra mile.

If we are talking about relief, then it's the Yen who is losing ground. That held Nikkei, which is up more than 3% since yesterday.

UK is not doing bad either, though it is down marginally today, it is nevertheless up about 1.9%, trading at 6130.