Fed boosts stocks | Bond King's prediction | Volcker rips Trump

Stocks got a lift from the Fed on Wednesday.

VIEW IN BROWSER | SUBSCRIBE WED, DEC 11, 2019 EVENING BRIEF AS OF WED, DEC 11, 2019 • 04:15 ET DJIA 27911.30 +0.11% +29.58 S&P 500 3141.63 +0.29% +9.11 NASDAQ 8654.05 +0.44% +37.87   Most Active DOW NAME LAST CHG %CHG INTC 57.07 +0.48 +0.85% AAPL 270.77 +2.29 +0.85% MSFT 151.70 +0.57 +0.38% S&P 500 NAME LAST CHG %CHG DHR 149.67 +0.83 +0.56% BAC 33.64 +0.11 +0.33% CMCSA 42.07 -0.70 -1.64% NASDAQ NAME LAST CHG %CHG CMCSA 42.07 -0.70 -1.64% AMD 39.47 +0.03 +0.08% MU 49.26 +1.80 +3.79% EDITOR'S NOTE The Federal Reserve is "cheerleading" inflation higher, which will mean a rise in long-term government bond yields, says DoubleLine Capital founder Jeffrey Gundlach. Gundlach, a billionaire investor known as the "Bond King," runs a firm that manages $147 billion in assets. He told CNBC's Scott Wapner he sees the yield on the 10-year rising to more than 2% as the Fed pushes for higher inflation.    The Federal Reserve left rates unchanged as it concluded its December meeting on Wednesday.  But Fed Chairman Jerome Powell's comments seemed to come right on cue from Gundlach's observations, signaling the bar would be high before the central bank tightens again. "In order to move rates up, I would want to see inflation that's persistent and that's significant," Powell said during a press conference in Washington. "A significant move up in inflation that's also persistent before raising rates to address inflation concerns: That's my view." Al Lewis | CNBC Markets Editor @tellittoal TOP NEWS  Stocks rise after Fed signals it will stay on hold in 2020 Fed holds rates steady and indicates no changes through at least 2020 Fed Chair Powell says he would want to see persistent rise in inflation before hiking rates again Months before he died, Volcker ripped into Trump and 'nihilistic forces' undermining confidence in the US Gundlach sees 10-year yield jumping above 2% because the Fed is 'cheerleading inflation higher' FAA chief says Boeing 737 Max recertification process to stretch into 2020 Pelosi agrees to expand drug price bill to win support from AOC, other Democrats Saudi Aramco shares surge 10% as historic IPO begins trading Pot stocks try to rebound from terrible 2019: 'This is 2008 for the cannabis industry' Chevron is writing down as much as $11 billion worth of assets, and it could cost the entire market     TOP VIDEO Watch CNBC's full interview with Jeffrey Gundlach   CNBC PRO Analysts are getting a lot more bullish on Apple, with one seeing the stock topping $300 next year   SPECIAL REPORTS Technical analyst says this is the next tech 'catch-up' trade that's heading to new all-time highs Last year's worst stocks were some of 2019's best. Here are 2 pros' favorites   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2019 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS