Dow Surges 168 on Fed Hopes
Consumer spending bump supports solid gains
By Nick McMaster,  Newser Staff
Posted Apr 29, 2009 3:40 PM CDT
Traders work on the floor of the New York Stock Exchange today.   (AP Photo)
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(Newser) – Stocks gained today but ended off session highs after good news from a key Federal Reserve body, the Wall Street Journal reports. The Open Market Committee said it saw evidence the economy is stabilizing, and the Fed said it may increase purchases of Treasury securities to lower borrowing costs. The Dow gained 168.46 to close at 8,185.73. The Nasdaq added 38.13, to 1,711.94, and the S&P 500 rose 18.48, closing at 873.64.