This thesis studies the effect of monetary policy shocks on stock price change before and after FOMC meetings. Results show that contractionary monetary policy surprise cause negative asset returns on average, vice versus. I also found that reactions of individual stocks to monetary shocks are not fully explained by Fama French five-factor model. Then, results show that size, profitability, book leverage, current ratio, and current liabilities ratio are related to stock prices change induced by monetary policy surprise.