Dow Ends Day Up 74
Stocks close higher after Fed leaves interest rates unchanged
By Newser Editors and Wire Services
Posted Mar 16, 2016 3:18 PM CDT
Trader Fred DeMarco works on the floor of the New York Stock Exchange, Wednesday, March 16, 2016.    (Richard Drew)
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(Newser) – US stocks ended higher after the Federal Reserve left interest rates unchanged and forecast it will raise rates more gradually than it had envisioned late last year. The market had been lower before the Fed released its statement, which highlighted strength in hiring and housing, but weakness in exports and concerns over slower global economic growth. The Dow Jones industrial average rose 74 points, or 0.4%, to 17,326. The Standard & Poor's 500 index rose 11 points, or 0.6%, to 2,027. The Nasdaq composite rose 35 points or 0.8%, to 4,763.