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Fed Statement Revs Up Stocks

By Michael Goldstein Columns FOXBusiness

The U.S. stock market got an afternoon boost Wednesday following the (much anticipated) Fed policy statement indicating the market-friendly low interest rates could continue for a “considerable time." The Fed also continued cutting its monthly bond buying program, reducing the purchases to $15 billion a month putting an end to the quantitative easing program on track for October.

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Market Radar - % Change

Crude oil slid back after Tuesday’s big gains to settle down $0.46 at $94.42 per barrel, down 0.46%. Gold also settled slightly lower at $1,235.9 per ounce, a loss of $0.80, down 0.06%.

All of the major indexes ended in the green, with the Dow Industrials (DJI) hitting another new intraday record of 17,221.11 before retreating off the high to close at 17,156.85, up 24.77 points or 0.15% on the day. The S&P 500 (GSPC) rose in similar fashion, gaining 0.13% or 2.59 points to close at 2,001.57.

The NASDAQ Composite (IXIC) rose for a second day, gaining 9.43 points to close at 4,562.19, up 0.21%. The NASDAQ 100 also rose, closing at 4,073.57, a gain of 2.92 points or 0.15%.

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The small cap Russell 2000 was up 0.25% to close at 1,153.89, up 2.92 points, while The Fox 50 followed the markets into the green gaining 0.25% to close at 1,415.92, up 3.56 points.

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